Zacks Investment Research Lowers Resideo Technologies (NYSE:REZI) to Hold

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Zacks Investment Research downgraded shares of Resideo Technologies (NYSE:REZI) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

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. “

Separately, Imperial Capital reiterated an outperform rating and set a $26.00 price target (up previously from $24.00) on shares of Resideo Technologies in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $26.00.

REZI stock opened at $21.50 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.19 and a quick ratio of 0.74. The company has a market cap of $2.64 billion and a P/E ratio of 8.70. Resideo Technologies has a fifty-two week low of $17.60 and a fifty-two week high of $28.67. The business’s fifty day moving average price is $20.85.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. On average, analysts predict that Resideo Technologies will post 1.39 EPS for the current fiscal year.

In other news, insider Masi Niccolo De purchased 4,837 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $20.68 per share, for a total transaction of $100,029.16. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen Montgomery Kelly bought 2,530 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was bought at an average price of $19.67 per share, with a total value of $49,765.10. The disclosure for this purchase can be found here. Insiders have bought a total of 20,081 shares of company stock valued at $407,126 in the last quarter. 0.09% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Advocates Investment Management bought a new position in Resideo Technologies in the 4th quarter worth about $698,000. Fort L.P. bought a new position in Resideo Technologies in the 4th quarter worth about $27,000. 1832 Asset Management L.P. bought a new position in Resideo Technologies in the 4th quarter worth about $29,000. Dubuque Bank & Trust Co. bought a new position in Resideo Technologies in the 1st quarter worth about $28,000. Finally, Northern Oak Wealth Management Inc. bought a new position in Resideo Technologies in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 74.65% of the company’s stock.

About Resideo Technologies

Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.

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