Resideo Technologies, Inc. (NYSE:REZI) Stock Has Consensus Price Target of $31.75 According to Analysts

Shares of Resideo Technologies, Inc. (NYSE:REZI) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $31.75.

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Evercore initiated coverage on shares of Resideo Technologies in a research note on Monday, September 28th. They set an “outperform” rating and a $30.00 price target on the stock. Citigroup started coverage on shares of Resideo Technologies in a report on Monday, October 19th. They set a “market outperform” rating for the company. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Finally, Zacks Research raised shares of Resideo Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th.

Resideo Technologies Stock Down 1.0%

Shares of NYSE REZI opened at $19.39 on Tuesday. The stock has a market cap of $2.94 billion, a P/E ratio of 8.58 and a beta of 1.58. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. Resideo Technologies has a 12-month low of $15.90 and a 12-month high of $42.95. The business’s fifty day simple moving average is $18.40 and its 200-day simple moving average is $29.51.

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

Insider Activity at Resideo Technologies

In other news, SVP Amit Mehta purchased 10,928 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average price of $20.68 per share, with a total value of $225,991.04. Following the purchase, the senior vice president directly owned 57,362 shares of the company’s stock, valued at $1,186,246.16. This represents a 23.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joshua Foster acquired 15,317 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the transaction, the senior vice president directly owned 183,509 shares in the company, valued at approximately $3,776,615.22. This represents a 9.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 41,245 shares of company stock valued at $848,115 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Resideo Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth about $673,214,000. Dimensional Fund Advisors LP boosted its position in shares of Resideo Technologies by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock worth $262,505,000 after acquiring an additional 64,613 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of Resideo Technologies by 119.3% in the third quarter. Pzena Investment Management LLC now owns 3,699,890 shares of the company’s stock worth $67,153,000 after acquiring an additional 2,013,125 shares during the last quarter. Swedbank AB grew its holdings 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 purchasing an additional 318,204 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in 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 purchasing an additional 71,092 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.

About Resideo Technologies

Resideo Technologies, Inc (NYSE: REZI) is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.

Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.