Resideo Technologies, Inc. (NYSE:REZI) Receives $41.00 Average Price Target from Brokerages

Resideo Technologies, Inc. (NYSE:REZI) has been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $37.50.

Several research firms have weighed in on REZI. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Morgan Stanley lowered their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. initiated coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Zacks Research cut Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th.

Resideo Technologies Price Performance

REZI opened at $18.30 on Monday. The stock has a fifty day moving average of $25.52 and a 200-day moving average of $31.05. The firm has a market capitalization of $2.78 billion, a P/E ratio of 8.10 and a beta of 1.60. Resideo Technologies has a 12-month low of $18.17 and a 12-month high of $45.29. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.36. The firm 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%.The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. Equities analysts forecast that Resideo Technologies will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, CEO Thomas A. Surran purchased 15,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the acquisition, the chief executive officer owned 338,573 shares of the company’s stock, valued at $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Joshua Foster purchased 15,317 shares of the business’s stock in a transaction dated 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 acquisition, the senior vice president directly owned 183,509 shares in the company, valued at $3,776,615.22. This represents a 9.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 41,245 shares of company stock worth $848,115 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REZI. WINTON GROUP Ltd raised its holdings in Resideo Technologies by 136.5% in the 2nd quarter. WINTON GROUP Ltd now owns 17,500 shares of the company’s stock worth $544,000 after acquiring an additional 10,100 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Resideo Technologies in the second quarter valued at about $132,000. IFP Advisors Inc increased its stake in shares of Resideo Technologies by 33.1% in 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 during the period. Squarepoint Ops LLC increased its stake in shares of Resideo Technologies by 85.8% in the second 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 period. Finally, Arizona State Retirement System grew its holdings in Resideo Technologies by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 37,560 shares of the company’s stock valued at $1,168,000 after buying an additional 567 shares during the last quarter. 91.71% of the stock is owned by institutional investors.

About Resideo Technologies

Resideo Technologies, Inc is a technology and manufacturing company that provides products and solutions for residential and commercial buildings. Its offerings are designed to improve security, comfort, energy efficiency, water management and connectivity in homes and other properties.

Through its Products and Solutions segment, Resideo supplies thermostats, heating and cooling controls, indoor air-quality products, water-management systems, security and fire products, video solutions, sensors and connected-home technologies.