Resideo Technologies, Inc. (NYSE:REZI) Stock Has Consensus Target Price of $35.00 According to Brokerages

Key Points

• Analysts maintain a consensus “Hold” rating on Resideo Technologies, with three buys, two holds and one sell; the average 12-month price target is $35.00.
• Resideo reported quarterly EPS of $0.83, exceeding the $0.47 consensus estimate, while revenue reached $1.98 billion, up 2% year over year.
• The stock opened at $17.20, near its 12-month low of $16.78, while insiders bought 41,245 shares worth approximately $848,000 over the past three months.

Shares of Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) have been given an average recommendation of "Hold" by the six analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $35.00.

REZI has been the subject of a number of recent analyst reports. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They set a "buy" rating and a $55.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They issued a "neutral" rating and a $30.00 price objective for the company. Morgan Stanley dropped their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. Zacks Research downgraded shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 9th. Finally, Oppenheimer reissued an "outperform" rating on shares of Resideo Technologies in a research report on Thursday, August 13th.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $17.20 on Friday. The firm has a market capitalization of $2.61 billion, a PE ratio of 7.61 and a beta of 1.54. Resideo Technologies has a 12-month low of $16.78 and a 12-month high of $45.29. The firm has a 50-day moving average price of $20.73 and a 200-day moving average price of $29.39. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Resideo Technologies will post 2.16 EPS for the current year.

Insider Buying and Selling

In other Resideo Technologies news, CEO Thomas A. Surran purchased 15,000 shares of Resideo Technologies stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the acquisition, the chief executive officer owned 338,573 shares in the company, valued at $6,927,203.58. This trade represents a 4.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Amit Mehta purchased 10,928 shares of the stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of $20.68 per share, with a total value of $225,991.04. Following the transaction, the senior vice president directly owned 57,362 shares in the company, valued at approximately $1,186,246.16. This trade represents a 23.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 41,245 shares of company stock valued at $848,115 over the last three months. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Resideo Technologies

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP bought a new position in Resideo Technologies in the second quarter worth about $28,000. State of Wyoming purchased a new stake in Resideo Technologies during the second quarter valued at approximately $91,000. GAMMA Investing LLC boosted its stake in Resideo Technologies by 15.2% in the third quarter. GAMMA Investing LLC now owns 6,799 shares of the company's stock valued at $123,000 after acquiring an additional 896 shares in the last quarter. Nykredit A S purchased a new position in Resideo Technologies in the second quarter worth $132,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Resideo Technologies during the second quarter worth $132,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

About Resideo Technologies

Resideo Technologies, Inc is a global provider of products and services for residential and commercial comfort, security, safety and energy management. The company develops and distributes connected home technologies, including thermostats, indoor air-quality products, water-leak detection systems, security controls, sensors and related accessories.

Resideo also operates ADI Global Distribution, a distributor of security, automation and low-voltage products serving professional installers and integrators.

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