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

Key Points

• The stock has a consensus analyst rating of Hold from five firms (1 sell, 2 hold, 2 buy) with an average 12-month price target of about $39.67.
• Analyst views are mixed: Morgan Stanley recently raised its price target to $50 and moved to overweight, Oppenheimer reaffirmed an outperform, while Weiss Ratings maintains a sell.
• Shares opened at $34.88 (12-month range $14.18–$45.29); the company has a market cap of about $5.27B, a negative P/E, and high institutional ownership (~91.71%) including a 13,286,384-share stake by Clayton Dubilier & Rice.

Shares of Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) have been given an average rating of "Hold" by the five research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $39.6667.

Several research analysts have recently commented on the company. Oppenheimer reissued an "outperform" rating on shares of Resideo Technologies in a report on Friday, March 13th. Weiss Ratings reissued a "sell (d+)" rating on shares of Resideo Technologies in a report on Thursday, January 22nd. Finally, Morgan Stanley boosted their price objective on Resideo Technologies from $42.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th.

Resideo Technologies Stock Up 0.7%

Shares of NYSE REZI opened at $34.88 on Tuesday. Resideo Technologies has a 12 month low of $14.18 and a 12 month high of $45.29. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -8.65 and a beta of 1.70. The business has a 50-day moving average of $35.34 and a 200-day moving average of $36.59.

Institutional Trading of Resideo Technologies

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in Resideo Technologies by 108.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 140,886 shares of the company's stock worth $3,108,000 after buying an additional 73,261 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Resideo Technologies by 274.7% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 83,892 shares of the company's stock worth $3,622,000 after buying an additional 61,504 shares during the last quarter. Clayton Dubilier & Rice LLC lifted its position in Resideo Technologies by 130.3% in the 3rd quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company's stock worth $573,706,000 after buying an additional 7,516,233 shares during the last quarter. Alpha Wave Global LP bought a new stake in Resideo Technologies in the 3rd quarter worth approximately $8,811,000. Finally, Hudson Bay Capital Management LP bought a new stake in Resideo Technologies in the 3rd quarter worth approximately $3,022,000. 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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