Resideo Technologies, Inc. (NYSE:REZI) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Resideo Technologies, with one sell, two hold and two buy recommendations. The average 12-month price target is $41.00.
• Resideo exceeded quarterly expectations, reporting $0.83 EPS versus a $0.47 consensus and $1.98 billion in revenue, up 2% year over year. Analysts forecast full-year EPS of $2.81.
• The stock opened at $21.52, near its 52-week low of $20.10 and well below its $45.29 high. Company insiders bought 41,245 shares worth approximately $848,115 in the last quarter, while institutional investors own 91.71% of shares.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) has been assigned an average rating of "Hold" from the five analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $41.00.

Several research analysts have recently issued reports on REZI shares. Oppenheimer restated an "outperform" rating on shares of Resideo Technologies in a report on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They set a "neutral" rating and a $30.00 price target for the company. Zacks Research lowered shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. Morgan Stanley reduced their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Finally, Weiss Ratings raised Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, August 14th.

Resideo Technologies Price Performance

Shares of REZI stock opened at $21.52 on Thursday. The stock's 50-day simple moving average is $30.84 and its 200-day simple moving average is $33.65. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 9.52 and a beta of 1.63. Resideo Technologies has a fifty-two week low of $20.10 and a fifty-two week high of $45.29.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating 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 company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.66 earnings per share. Resideo Technologies's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts forecast that Resideo Technologies will post 2.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Resideo Technologies

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Resideo Technologies during the second quarter worth about $673,214,000. Clayton Dubilier & Rice LLC increased its stake in Resideo Technologies by 12.7% in the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company's stock valued at $525,962,000 after purchasing an additional 1,689,758 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Resideo Technologies by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company's stock valued at $262,505,000 after buying an additional 64,613 shares in the last quarter. Franklin Resources Inc. increased its stake in Resideo Technologies by 51.4% in the 4th quarter. Franklin Resources Inc. now owns 2,860,308 shares of the company's stock valued at $100,454,000 after buying an additional 971,643 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Resideo Technologies by 13.6% in the 1st quarter. Swedbank AB now owns 2,665,123 shares of the company's stock worth $89,841,000 after purchasing an additional 318,204 shares during the period. Institutional investors 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.

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