Zacks Research Upgrades Resideo Technologies (NYSE:REZI) to Hold

Resideo Technologies (NYSE:REZI) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Several other brokerages also recently issued reports on REZI. Evercore assumed coverage on Resideo Technologies in a report on Monday, September 28th. They issued an “outperform” rating and a $30.00 price target for the company. Seaport Research Partners started coverage on Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 price objective on the stock. Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Morgan Stanley lowered their target price on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Resideo Technologies Stock Performance

Shares of REZI stock opened at $16.22 on Tuesday. The company’s fifty day simple moving average is $19.60 and its 200-day simple moving average is $28.87. Resideo Technologies has a 52 week low of $15.90 and a 52 week high of $45.29. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.46 billion, a PE ratio of 7.18 and a beta of 1.54.

Resideo Technologies (NYSE:REZI) last posted its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.36. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, equities research analysts anticipate that Resideo Technologies will post 2.16 EPS for the current year.

Insider Activity at Resideo Technologies

In other news, CEO Thomas Surran purchased 15,000 shares of the stock in a transaction that occurred on 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 acquisition, the chief executive officer owned 338,573 shares in the company, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Amit Mehta purchased 10,928 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average cost 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 $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 41,245 shares of company stock valued at $848,115. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Resideo Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Resideo Technologies by 15.2% during the 3rd quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock worth $123,000 after purchasing an additional 896 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of Resideo Technologies by 136.5% in the 2nd quarter. WINTON GROUP Ltd now owns 17,500 shares of the company’s stock valued at $544,000 after purchasing an additional 10,100 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Resideo Technologies during the 2nd quarter valued at approximately $132,000. IFP Advisors Inc boosted its stake in shares of Resideo Technologies by 33.1% during the 2nd quarter. IFP Advisors Inc now owns 4,670 shares of the company’s stock valued at $145,000 after buying an additional 1,162 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake 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 valued at $5,189,000 after buying an additional 77,065 shares during the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.

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.