Resideo Technologies (NYSE:REZI) Price Target Raised to $50.00

Resideo Technologies (NYSE:REZI) had its target price lifted by Morgan Stanley from $42.00 to $50.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

REZI has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a research report on Thursday, January 22nd. Wall Street Zen cut Resideo Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research downgraded Resideo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.67.

Resideo Technologies Stock Down 4.5%

Shares of Resideo Technologies stock opened at $38.67 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.07 and a current ratio of 1.91. Resideo Technologies has a 52-week low of $14.18 and a 52-week high of $45.29. The company’s 50 day moving average price is $36.18 and its 200-day moving average price is $36.61. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of -9.60 and a beta of 1.73.

Hedge Funds Weigh In On Resideo Technologies

Several large investors have recently made changes to their positions in REZI. Larson Financial Group LLC increased its holdings in shares of Resideo Technologies by 283.8% during the third quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock valued at $25,000 after acquiring an additional 420 shares in the last quarter. ORG Partners LLC grew its position in Resideo Technologies by 588.2% during the 3rd quarter. ORG Partners LLC now owns 585 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in Resideo Technologies by 1,778.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 620 shares of the company’s stock valued at $27,000 after purchasing an additional 587 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Resideo Technologies during the 4th quarter valued at about $25,000. Finally, Danske Bank A S raised its holdings in Resideo Technologies by 600.0% in the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock worth $25,000 after buying an additional 600 shares during the last quarter. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

About Resideo Technologies

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.