Brokerages Set Resideo Technologies, Inc. (NYSE:REZI) Target Price at $41.00

Shares of Resideo Technologies, Inc. (NYSE:REZI) have received an average recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $41.00.

Several equities research analysts have recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Zacks Research lowered Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Morgan Stanley reduced their price objective on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Finally, Seaport Research Partners assumed coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock.

Insider Transactions at Resideo Technologies

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

Institutional Investors Weigh In On Resideo Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd increased its position in shares of Resideo Technologies by 136.5% during 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 during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Resideo Technologies in the second quarter worth $132,000. IFP Advisors Inc lifted its position in 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 buying an additional 1,162 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Resideo Technologies by 85.8% during the second quarter. Squarepoint Ops LLC now owns 166,835 shares of the company’s stock worth $5,189,000 after buying an additional 77,065 shares during the period. Finally, Arizona State Retirement System boosted its stake in Resideo Technologies by 1.5% during the second quarter. Arizona State Retirement System now owns 37,560 shares of the company’s stock worth $1,168,000 after buying an additional 567 shares during the period. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Resideo Technologies Stock Performance

REZI opened at $18.65 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 8.25 and a beta of 1.60. The company has a fifty day moving average of $26.08 and a 200 day moving average of $31.28. Resideo Technologies has a fifty-two week low of $18.50 and a fifty-two week high of $45.29.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Resideo Technologies will post 2.5 earnings per share for the current fiscal year.

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.