Resideo Technologies, Inc. (REZI) – What Are Brokerages Saying About This Stock?

Shares of Resideo Technologies, Inc. (NYSE:REZI) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $35.00.

A number of analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Morgan Stanley dropped their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Zacks Research upgraded shares of Resideo Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Seaport Research Partners assumed coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price objective for the company.

Insider Activity

In other Resideo Technologies news, SVP Amit Mehta purchased 10,928 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the purchase, the senior vice president directly owned 57,362 shares in the company, valued at approximately $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joshua Foster purchased 15,317 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the transaction, the senior vice president directly owned 183,509 shares of the company’s stock, valued at $3,776,615.22. This represents a 9.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 41,245 shares of company stock worth $848,115 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in REZI. GAMMA Investing LLC lifted its holdings in Resideo Technologies by 15.2% during the third quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock valued at $123,000 after purchasing an additional 896 shares in the last quarter. WINTON GROUP Ltd increased its stake in shares of Resideo Technologies by 136.5% during the second quarter. WINTON GROUP Ltd now owns 17,500 shares of the company’s stock worth $544,000 after purchasing an additional 10,100 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Resideo Technologies during the second quarter worth about $132,000. IFP Advisors Inc increased its stake in shares of Resideo Technologies by 33.1% during the second quarter. IFP Advisors Inc now owns 4,670 shares of the company’s stock worth $145,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Resideo Technologies by 85.8% during the 2nd quarter. Squarepoint Ops LLC now owns 166,835 shares of the company’s stock worth $5,189,000 after purchasing an additional 77,065 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Trading Up 2.4%

Shares of NYSE:REZI opened at $16.60 on Friday. 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 $45.29. The business has a 50 day moving average of $19.41 and a two-hundred day moving average of $28.76. The company has a market capitalization of $2.52 billion, a PE ratio of 7.35 and a beta of 1.54.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.36. The business had revenue of $1.98 billion for 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 business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. As a group, analysts forecast that Resideo Technologies will post 2.16 EPS for the current 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.