Resideo Technologies, Inc. (NYSE:REZI) Given Average Rating of “Hold” by Analysts

Resideo Technologies, Inc. (NYSE:REZI) has earned an average rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $37.50.

A number of equities analysts have recently issued reports on REZI shares. JPMorgan Chase & Co. assumed coverage on Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price for the company. Morgan Stanley lowered their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Seaport Research Partners started coverage on Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 price objective for the company. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Finally, Zacks Research downgraded shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th.

Insider Buying and Selling

In other Resideo Technologies news, SVP Amit Mehta purchased 10,928 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the transaction, the senior vice president directly owned 57,362 shares in the company, valued at approximately $1,186,246.16. The trade was a 23.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas Surran bought 15,000 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $20.46 per share, with a total value of $306,900.00. Following the completion of the purchase, the chief executive officer owned 338,573 shares of the company’s stock, valued at $6,927,203.58. This represents a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 41,245 shares of company stock worth $848,115 in the last three months. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Resideo Technologies

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Resideo Technologies in the 2nd quarter worth approximately $673,214,000. Clayton Dubilier & Rice LLC lifted its stake in shares of Resideo Technologies by 12.7% during the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock valued at $525,962,000 after acquiring an additional 1,689,758 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Resideo Technologies by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock valued at $262,505,000 after acquiring an additional 64,613 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Resideo Technologies by 51.4% in the fourth quarter. Franklin Resources Inc. now owns 2,860,308 shares of the company’s stock valued at $100,454,000 after acquiring an additional 971,643 shares during the last quarter. Finally, Locust Wood Capital Advisers LLC increased its position in Resideo Technologies by 124.6% in the fourth quarter. Locust Wood Capital Advisers LLC now owns 2,649,691 shares of the company’s stock worth $93,057,000 after purchasing an additional 1,470,077 shares during the period. 91.71% of the stock is owned by institutional investors.

Resideo Technologies Stock Performance

NYSE REZI opened at $18.30 on Monday. Resideo Technologies has a twelve month low of $18.17 and a twelve month high of $45.29. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. The stock has a market cap of $2.78 billion, a P/E ratio of 8.10 and a beta of 1.60. The company’s 50-day simple moving average is $25.52 and its 200 day simple moving average is $31.00.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.36. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. As a group, research analysts forecast that Resideo Technologies will post 2.5 earnings per share for the current fiscal year.

Resideo Technologies Company Profile

Resideo Technologies, Inc is a technology and manufacturing company that provides products and solutions for residential and commercial buildings. Its offerings are designed to improve security, comfort, energy efficiency, water management and connectivity in homes and other properties.

Through its Products and Solutions segment, Resideo supplies thermostats, heating and cooling controls, indoor air-quality products, water-management systems, security and fire products, video solutions, sensors and connected-home technologies.