Resideo Technologies, Inc. (NYSE:REZI) Stock Has Consensus Price Target of $35.00 According to Brokerages

Shares of Resideo Technologies, Inc. (NYSE:REZI) have earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.00.

A number of brokerages recently commented on REZI. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Morgan Stanley reduced their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Zacks Research cut Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Evercore began coverage on Resideo Technologies in a research note on Monday, September 28th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, SVP Joshua Foster purchased 15,317 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the purchase, the senior vice president owned 183,509 shares of the company’s stock, valued at approximately $3,776,615.22. This represents a 9.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Amit Mehta purchased 10,928 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 57,362 shares in the company, valued at approximately $1,186,246.16. This represents a 23.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 41,245 shares of company stock valued at $848,115. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Resideo Technologies

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Resideo Technologies during the second quarter worth about $673,214,000. Dimensional Fund Advisors LP increased its position in Resideo Technologies by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock worth $262,505,000 after buying an additional 64,613 shares during the last quarter. Franklin Resources Inc. raised its stake 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 buying an additional 971,643 shares during the period. Swedbank AB raised its stake in Resideo Technologies by 13.6% in the first quarter. Swedbank AB now owns 2,665,123 shares of the company’s stock valued at $89,841,000 after buying an additional 318,204 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Resideo Technologies by 3.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,069,509 shares of the company’s stock valued at $69,763,000 after buying an additional 71,092 shares during the last quarter. Institutional investors own 91.71% of the company’s stock.

Resideo Technologies Stock Performance

Shares of REZI stock opened at $17.08 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The company has a market capitalization of $2.59 billion, a P/E ratio of 7.56 and a beta of 1.54. The company’s 50 day moving average price is $20.38 and its two-hundred day moving average price is $29.27. Resideo Technologies has a 52 week low of $16.78 and a 52 week high of $45.29.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.36. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, analysts expect that Resideo Technologies will post 2.16 earnings per share for the current fiscal year.

About Resideo Technologies

Resideo Technologies, Inc is a global provider of products and services for residential and commercial comfort, security, safety and energy management. The company develops and distributes connected home technologies, including thermostats, indoor air-quality products, water-leak detection systems, security controls, sensors and related accessories.

Resideo also operates ADI Global Distribution, a distributor of security, automation and low-voltage products serving professional installers and integrators.