Resideo Technologies (REZI) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Resideo Technologies (NYSE:REZI) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $22.00 target price 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. “

A number of other analysts have also issued reports on the stock. Bank of America initiated coverage on shares of Resideo Technologies in a research note on Thursday, December 6th. They set a buy rating and a $28.00 target price for the company. ValuEngine raised shares of Resideo Technologies from a sell rating to a hold rating in a research note on Wednesday, January 2nd. Oppenheimer set a $35.00 target price on shares of Resideo Technologies and gave the company a buy rating in a research note on Tuesday, November 13th. Finally, Imperial Capital initiated coverage on shares of Resideo Technologies in a research note on Tuesday. They set an outperform rating and a $24.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $25.00.

Shares of REZI opened at $19.70 on Tuesday. The firm has a market cap of $2.50 billion and a PE ratio of 7.98. Resideo Technologies has a 12-month low of $17.60 and a 12-month high of $28.67. The company has a quick ratio of 0.79, a current ratio of 1.21 and a debt-to-equity ratio of 0.77.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Thursday, March 7th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.23). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts predict that Resideo Technologies will post 2.18 EPS for the current year.

In other news, Director Roger Fradin acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was purchased at an average cost of $20.41 per share, for a total transaction of $510,250.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 25,438 shares of company stock valued at $521,149 over the last 90 days.

Hedge funds have recently added to or reduced their stakes in the stock. Blume Capital Management Inc. bought a new stake in shares of Resideo Technologies in the fourth quarter valued at about $25,000. Pflug Koory LLC bought a new stake in shares of Resideo Technologies in the fourth quarter valued at about $26,000. Bedel Financial Consulting Inc. bought a new stake in shares of Resideo Technologies in the fourth quarter valued at about $27,000. Private Capital Group LLC bought a new stake in shares of Resideo Technologies in the fourth quarter valued at about $27,000. Finally, Fort L.P. bought a new stake in shares of Resideo Technologies in the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 71.74% of the company’s stock.

Resideo Technologies Company Profile

Resideo Technologies, Inc provides critical residential comfort and security solutions in the United States, Europe, and internationally. It operates through two segments, Production and Distribution. The company offers comfort and care products, including temperature and humidity control, thermal, water, air, remote patient monitoring software, and software solutions; and security and safety products, such as security panels, sensors, peripherals, wires and cables, communication devices, video cameras, awareness solutions, cloud infrastructure, and installation and maintenance tools and software products.

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