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

Resideo Technologies, Inc. (NYSE:REZI) has earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.00.

Several brokerages recently weighed in on REZI. Seaport Research Partners initiated coverage on Resideo Technologies in a report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. started coverage on Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 price target for the company. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Finally, Morgan Stanley decreased their price objective on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 13th.

Resideo Technologies Price Performance

REZI stock opened at $19.92 on Thursday. The stock’s 50 day moving average is $29.69 and its two-hundred day moving average is $33.11. Resideo Technologies has a 52-week low of $18.96 and a 52-week high of $45.29. The company has a market capitalization of $3.02 billion, a PE ratio of 8.81 and a beta of 1.63. 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 released its earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted $0.66 EPS. The business’s revenue was up 2.0% on a year-over-year basis. Analysts predict that Resideo Technologies will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Resideo Technologies

In other Resideo Technologies news, SVP Amit Ashvin Mehta purchased 10,928 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of $20.68 per share, with a total value of $225,991.04. Following the acquisition, the senior vice president owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This represents a 23.53% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas A. Surran purchased 15,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $20.46 per share, with a total value of $306,900.00. Following the completion of the acquisition, the chief executive officer directly owned 338,573 shares in the company, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 41,245 shares of company stock worth $848,115. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Resideo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its position in shares of Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after purchasing an additional 420 shares during the period. Danske Bank A S boosted its position in Resideo Technologies by 600.0% during the 4th quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 600 shares during the period. Allworth Financial LP bought a new position in Resideo Technologies during the 2nd quarter worth $28,000. McMillan Office Inc. bought a new position in Resideo Technologies during the 4th quarter worth $33,000. Finally, Kestra Advisory Services LLC acquired a new stake in Resideo Technologies in the fourth quarter worth $34,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

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.