Zacks Investment Research upgraded shares of Resideo Technologies (NYSE:REZI) from a sell rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. The firm currently has $24.00 price objective on the stock.
According to Zacks, “Resideo Technologies Inc. provides critical comfort and security solutions primarily in residential environments and distributor of low-voltage and security products. Resideo Technologies Inc. is based in GOLDEN VALLEY, United States. “
Separately, Imperial Capital reaffirmed an outperform rating and issued a $26.00 price objective (up previously from $24.00) on shares of Resideo Technologies in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $26.00.
Shares of REZI opened at $21.50 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.19. The stock has a 50-day moving average of $20.85. The stock has a market capitalization of $2.64 billion and a PE ratio of 8.70. Resideo Technologies has a 52 week low of $17.60 and a 52 week high of $28.67.
Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Equities research analysts forecast that Resideo Technologies will post 1.39 EPS for the current year.
In other Resideo Technologies news, CFO Joseph Douglas Ragan III acquired 6,300 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average price of $20.05 per share, with a total value of $126,315.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael G. Nefkens acquired 4,964 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average cost of $20.26 per share, with a total value of $100,570.64. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 20,081 shares of company stock valued at $407,126. Corporate insiders own 0.09% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Advocates Investment Management bought a new position in shares of Resideo Technologies in the fourth quarter worth about $698,000. Fort L.P. bought a new position in shares of Resideo Technologies in the fourth quarter worth about $27,000. 1832 Asset Management L.P. bought a new position in shares of Resideo Technologies in the fourth quarter worth about $29,000. Dubuque Bank & Trust Co. bought a new position in shares of Resideo Technologies in the first quarter worth about $28,000. Finally, Northern Oak Wealth Management Inc. bought a new position in shares of Resideo Technologies in the fourth quarter worth about $31,000. 74.65% of the stock is owned by hedge funds and other institutional investors.
Resideo Technologies Company Profile
Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.
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