Resideo Technologies (NYSE:REZI) Stock Rating Lowered by Zacks Research

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

REZI has been the subject of a number of other reports. Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Morgan Stanley dropped their price objective on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. began coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They set a “neutral” rating and a $30.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Finally, Seaport Research Partners began coverage on shares of Resideo Technologies in a report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Resideo Technologies presently has a consensus rating of “Hold” and an average target price of $41.00.

Resideo Technologies Price Performance

Shares of REZI stock opened at $18.86 on Wednesday. Resideo Technologies has a one year low of $18.50 and a one year high of $45.29. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41. The company has a market capitalization of $2.86 billion, a P/E ratio of 8.34 and a beta of 1.60. The company’s 50-day simple moving average is $27.10 and its two-hundred day simple moving average is $31.82.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share 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 firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Resideo Technologies will post 2.5 EPS for the current year.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, SVP Joshua Foster acquired 15,317 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $20.58 per share, with a total value of $315,223.86. Following the transaction, the senior vice president owned 183,509 shares of the company’s stock, valued at approximately $3,776,615.22. This trade represents a 9.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Amit Mehta acquired 10,928 shares of the stock in a transaction dated Monday, August 17th. The shares were purchased 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 owned 57,362 shares of the company’s stock, valued at $1,186,246.16. This trade represents a 23.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 41,245 shares of company stock valued at $848,115. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Resideo Technologies

Several institutional investors have recently modified their holdings of REZI. Larson Financial Group LLC grew its holdings in shares of Resideo Technologies by 283.8% in the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock valued at $25,000 after buying an additional 420 shares during the period. Allworth Financial LP acquired a new position in shares of Resideo Technologies during the 2nd quarter worth about $28,000. McMillan Office Inc. acquired a new stake in Resideo Technologies during the 4th quarter valued at $33,000. Kestra Advisory Services LLC bought a new position in Resideo Technologies in the 4th quarter valued at about $34,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Resideo Technologies during the second quarter worth $34,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Company Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.