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

Shares of Resideo Technologies, Inc. (NYSE:REZI) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $35.00.

A number of equities research analysts recently issued reports on the stock. 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 downgraded shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. JPMorgan Chase & Co. assumed coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Finally, Morgan Stanley dropped their price target 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.

Resideo Technologies Stock Down 0.3%

Shares of NYSE:REZI opened at $16.57 on Friday. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. The business has a fifty day moving average of $19.80 and a two-hundred day moving average of $29.00. The stock has a market cap of $2.52 billion, a P/E ratio of 7.33 and a beta of 1.54. Resideo Technologies has a 52-week low of $16.33 and a 52-week high of $45.29.

Resideo Technologies (NYSE:REZI) last issued its 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. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $0.66 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts expect that Resideo Technologies will post 2.16 earnings per share for the current year.

Insider Transactions at Resideo Technologies

In other news, CEO Thomas Surran purchased 15,000 shares of Resideo Technologies stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $20.46 per share, with a total value of $306,900.00. Following the transaction, the chief executive officer owned 338,573 shares in the company, valued at $6,927,203.58. This represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joshua Foster purchased 15,317 shares of Resideo Technologies stock in a transaction dated 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 transaction, the senior vice president owned 183,509 shares in the company, valued at approximately $3,776,615.22. This trade represents a 9.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 41,245 shares of company stock worth $848,115 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Resideo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in Resideo Technologies in the second quarter valued at about $28,000. State of Wyoming purchased a new position in Resideo Technologies during the second quarter worth about $91,000. GAMMA Investing LLC boosted its stake in Resideo Technologies by 15.2% during the third quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock worth $123,000 after buying an additional 896 shares during the period. Nykredit A S acquired a new stake in shares of Resideo Technologies during the second quarter valued at about $132,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Resideo Technologies during the second quarter valued at about $132,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Company Profile

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.