Resideo Technologies (NYSE:REZI) Research Coverage Started at Citizens Jmp

Citizens Jmp began coverage on shares of Resideo Technologies (NYSE:REZI) in a research note released on Monday, MarketBeat Ratings reports. The firm issued a market outperform rating and a $22.00 target price on the stock.

Several other brokerages also recently weighed in on REZI. Zacks Research raised Resideo Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Seaport Research Partners initiated coverage on Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 target price on the stock. Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Finally, Citigroup initiated coverage on shares of Resideo Technologies in a report on Monday. They issued a “market outperform” rating for the company. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Resideo Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

Resideo Technologies Stock Performance

NYSE REZI opened at $17.48 on Monday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 7.73 and a beta of 1.54. Resideo Technologies has a twelve month low of $15.90 and a twelve month high of $45.29. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The stock has a 50-day moving average of $18.76 and a 200 day moving average of $28.28.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business posted $0.66 earnings per share. Resideo Technologies’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that Resideo Technologies will post 2.16 EPS for the current fiscal year.

Insider Activity at Resideo Technologies

In other news, SVP Amit Mehta acquired 10,928 shares of the business’s stock in a transaction on Monday, August 17th. The stock was bought at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the purchase, the senior vice president owned 57,362 shares in the company, valued at approximately $1,186,246.16. This represents a 23.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Joshua Foster acquired 15,317 shares of the business’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $20.58 per share, with a total value of $315,223.86. Following the completion of the purchase, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. This represents a 9.11% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 41,245 shares of company stock valued at $848,115. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Resideo Technologies

A number of hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Resideo Technologies in the second quarter worth approximately $28,000. State of Wyoming purchased a new stake in shares of Resideo Technologies during the second quarter worth approximately $91,000. Rockefeller Capital Management L.P. increased its position in shares of Resideo Technologies by 209.4% during the fourth 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 acquired a new position in Resideo Technologies in the 2nd quarter valued at $132,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Resideo Technologies in the 2nd quarter valued at $132,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Company Profile

Resideo Technologies, Inc (NYSE: REZI) is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.

Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.