Resideo Technologies (NYSE:REZI) Upgraded at Zacks Research

Resideo Technologies (NYSE:REZI) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

A number of other brokerages have also recently commented on REZI. JPMorgan Chase & Co. started coverage on Resideo Technologies in a report on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Evercore initiated coverage on Resideo Technologies in a report on Monday, September 28th. They issued an “outperform” rating and a $30.00 price target for the company. Seaport Research Partners started coverage on Resideo Technologies in a research report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price objective on the stock. Morgan Stanley decreased their price objective on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Resideo Technologies Stock Performance

Shares of REZI opened at $16.22 on Tuesday. Resideo Technologies has a 12-month low of $15.90 and a 12-month high of $45.29. The stock has a market cap of $2.46 billion, a P/E ratio of 7.18 and a beta of 1.54. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average of $19.60 and a two-hundred day moving average of $28.87.

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

Insider Activity at Resideo Technologies

In other news, CEO Thomas Surran bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the transaction, the chief executive officer owned 338,573 shares in the company, valued at $6,927,203.58. The trade was a 4.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Amit Mehta bought 10,928 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the transaction, the senior vice president owned 57,362 shares of the company’s stock, valued at $1,186,246.16. The trade was a 23.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 41,245 shares of company stock valued at $848,115. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Resideo Technologies

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Resideo Technologies in the 2nd quarter worth $673,214,000. Pzena Investment Management LLC acquired a new position in Resideo Technologies in the second quarter valued at $52,458,000. Bank of America Corp DE acquired a new position in Resideo Technologies in the second quarter valued at $32,325,000. Bank of New York Mellon Corp purchased a new stake in Resideo Technologies during the second quarter valued at about $28,117,000. Finally, J. Goldman & Co LP purchased a new stake in Resideo Technologies during the second quarter valued at about $17,983,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

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.