Resideo Technologies (NYSE:REZI) Research Coverage Started at Evercore

Evercore started coverage on shares of Resideo Technologies (NYSE:REZI) in a report issued on Monday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $30.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Morgan Stanley dropped their target price 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. Seaport Research Partners began coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Resideo Technologies presently has a consensus rating of “Hold” and an average price target of $35.00.

Resideo Technologies Stock Up 0.2%

Shares of NYSE:REZI opened at $18.16 on Monday. Resideo Technologies has a 52-week low of $17.73 and a 52-week high of $45.29. The stock has a market cap of $2.76 billion, a P/E ratio of 8.04 and a beta of 1.60. The business’s 50 day moving average is $22.76 and its 200 day moving average is $30.05. 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 quarterly earnings data 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 return on equity of 17.79% and a net margin of 5.37%.The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $0.66 EPS. Resideo Technologies’s quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts predict that Resideo Technologies will post 2.5 EPS for the current year.

Insider Buying and Selling at Resideo Technologies

In related news, SVP Amit Mehta bought 10,928 shares of the business’s stock in a transaction on Monday, August 17th. The shares were bought at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the completion of the purchase, the senior vice president directly owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joshua Foster bought 15,317 shares of Resideo Technologies stock in a transaction on Friday, August 14th. The stock was purchased at an average price of $20.58 per share, with a total value of $315,223.86. Following the completion of the acquisition, the senior vice president directly owned 183,509 shares of the company’s stock, valued at $3,776,615.22. This represents a 9.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 41,245 shares of company stock worth $848,115 over the last quarter. 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 bought and sold shares of the company. Allworth Financial LP purchased a new position in Resideo Technologies in the second quarter worth $28,000. State of Wyoming purchased a new stake in shares of Resideo Technologies during the 2nd quarter valued at $91,000. Rockefeller Capital Management L.P. boosted its position in shares of Resideo Technologies by 209.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,889 shares of the company’s stock worth $137,000 after purchasing an additional 2,632 shares in the last quarter. Nykredit A S purchased a new position in Resideo Technologies during the 2nd quarter worth $132,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Resideo Technologies during the 2nd quarter valued at about $132,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Company Profile

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.