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

Key Points

• Analysts give Resideo a consensus rating of "Hold" across five brokerages (1 sell, 2 hold, 2 buy) with an average 12‑month price target of about $39.67.
• Shares opened at $40.13 (down ~3%), with a market cap of $6.08B, a negative P/E of -9.96, and a 52‑week range of $17.08–$45.29, while the 50‑ and 200‑day moving averages sit near $36.4.
• Institutional ownership is high at 91.71%, and several funds meaningfully increased positions in Q1—most notably Swedbank and Fifth Third Bancorp.

Shares of Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) have earned a consensus rating of "Hold" from the five brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given 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 $39.6667.

A number of analysts have recently issued reports on REZI shares. Morgan Stanley lifted their price objective on shares of Resideo Technologies from $42.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Oppenheimer reiterated an "outperform" rating on shares of Resideo Technologies in a research note on Friday, March 13th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Resideo Technologies in a research note on Tuesday, April 21st.

Resideo Technologies Trading Down 3.0%

Shares of REZI stock opened at $40.13 on Friday. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of -9.96 and a beta of 1.75. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.30. Resideo Technologies has a fifty-two week low of $17.08 and a fifty-two week high of $45.29. The firm's 50 day moving average price is $36.74 and its two-hundred day moving average price is $36.34.

Institutional Trading of Resideo Technologies

A number of hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp raised its stake in shares of Resideo Technologies by 5,887.7% during the first quarter. Fifth Third Bancorp now owns 84,726 shares of the company's stock valued at $2,856,000 after purchasing an additional 83,311 shares during the period. Hsbc Holdings PLC raised its stake in shares of Resideo Technologies by 659.0% during the first quarter. Hsbc Holdings PLC now owns 50,832 shares of the company's stock valued at $1,706,000 after purchasing an additional 44,135 shares during the period. Swedbank AB raised its stake in shares of Resideo Technologies by 13.6% during the first quarter. Swedbank AB now owns 2,665,123 shares of the company's stock valued at $89,841,000 after purchasing an additional 318,204 shares during the period. QRG Capital Management Inc. raised its stake in shares of Resideo Technologies by 12.6% during the first quarter. QRG Capital Management Inc. now owns 12,416 shares of the company's stock valued at $419,000 after purchasing an additional 1,390 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Resideo Technologies during the first quarter valued at approximately $839,000. Hedge funds and other institutional investors own 91.71% of the company's stock.

About Resideo Technologies

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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