Resideo Technologies, Inc. (NYSE:REZI) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Resideo Technologies has a consensus “Hold” rating from five analysts, with one sell, two hold, and two buy recommendations. The average 12-month price target is $41.00.
• Company insiders showed confidence by purchasing 41,245 shares worth approximately $848,115 over the past three months, including substantial buys by the CEO and a senior vice president.
• Resideo exceeded quarterly expectations, reporting $0.83 in EPS versus the $0.47 consensus and $1.98 billion in revenue. However, shares opened at $19.13, near their 52-week low of $18.50 and well below the 52-week high of $45.29.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) has been given a consensus rating of "Hold" by the five ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $41.00.

Several research firms have recently weighed in on REZI. Zacks Research downgraded shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 9th. Weiss Ratings raised Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, August 14th. Seaport Research Partners began coverage on Resideo Technologies in a report on Wednesday, July 1st. They set a "buy" rating and a $55.00 price objective on the stock. Morgan Stanley decreased their target price on Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, July 13th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Resideo Technologies in a report on Thursday, August 13th.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, SVP Joshua Foster acquired 15,317 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $20.58 per share, with a total value of $315,223.86. Following the completion of the purchase, the senior vice president directly owned 183,509 shares in the company, valued at $3,776,615.22. The trade was a 9.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Surran bought 15,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the acquisition, the chief executive officer owned 338,573 shares in the company, valued at $6,927,203.58. This represents a 4.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 41,245 shares of company stock worth $848,115 over the last three months. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Resideo Technologies

Several institutional investors have recently bought and sold shares of REZI. Larson Financial Group LLC lifted its holdings in Resideo Technologies by 283.8% during the third quarter. Larson Financial Group LLC now owns 568 shares of the company's stock worth $25,000 after buying an additional 420 shares during the period. Allworth Financial LP purchased a new position in shares of Resideo Technologies in the 2nd quarter valued at $28,000. McMillan Office Inc. purchased a new position in shares of Resideo Technologies in the 4th quarter valued at $33,000. Kestra Advisory Services LLC bought a new position in shares of Resideo Technologies in the 4th quarter worth $34,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Resideo Technologies during the 2nd quarter worth $34,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

Resideo Technologies Stock Performance

Shares of Resideo Technologies stock opened at $19.13 on Monday. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. The stock's fifty day moving average is $26.87 and its two-hundred day moving average is $31.71. Resideo Technologies has a 52 week low of $18.50 and a 52 week high of $45.29. The company has a market capitalization of $2.90 billion, a PE ratio of 8.46 and a beta of 1.60.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.36. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. As a group, analysts expect that Resideo Technologies will post 2.5 earnings per share for the current year.

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.

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