Resideo Technologies (NYSE:REZI) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Resideo Technologies (NYSE:REZI) from a sell rating to a buy rating in a report issued on Wednesday, Zacks.com reports. Zacks Investment Research currently has $24.00 price target on the stock.

According to Zacks, “Resideo Technologies Inc. provides critical comfort and security solutions primarily in residential environments and distributor of low-voltage and security products. Resideo Technologies Inc. is based in GOLDEN VALLEY, United States. “

Separately, Imperial Capital reiterated an outperform rating and issued a $26.00 price target (up from $24.00) on shares of Resideo Technologies in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $26.00.

Shares of Resideo Technologies stock traded down $0.49 during trading on Wednesday, hitting $21.48. The company’s stock had a trading volume of 627,036 shares, compared to its average volume of 1,114,082. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.19 and a quick ratio of 0.74. The business’s fifty day moving average price is $20.82. The firm has a market capitalization of $2.69 billion and a P/E ratio of 8.70. Resideo Technologies has a 52 week low of $17.60 and a 52 week high of $28.67.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. As a group, equities research analysts anticipate that Resideo Technologies will post 1.39 EPS for the current fiscal year.

In other news, CFO Joseph Douglas Ragan III acquired 6,300 shares of Resideo Technologies stock in a transaction on Wednesday, June 5th. The stock was acquired at an average cost of $20.05 per share, for a total transaction of $126,315.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael G. Nefkens acquired 4,964 shares of Resideo Technologies stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $20.26 per share, with a total value of $100,570.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 20,101 shares of company stock valued at $407,526. 0.09% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC bought a new stake in Resideo Technologies during the 4th quarter valued at about $611,000. Nomura Holdings Inc. purchased a new stake in shares of Resideo Technologies during the 4th quarter valued at about $436,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Resideo Technologies during the 4th quarter valued at about $57,581,000. BlackRock Inc. purchased a new stake in shares of Resideo Technologies during the 4th quarter valued at about $209,847,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Resideo Technologies during the 4th quarter valued at about $4,456,000. Institutional investors and hedge funds own 74.65% of the company’s stock.

About Resideo Technologies

Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.

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