Citizens Jmp assumed coverage on shares of Resideo Technologies (NYSE:REZI – Get Free Report) in a report issued on Monday, Benzinga reports. The firm set a “market outperform” rating and a $22.00 price target on the stock. Citizens Jmp’s price target would indicate a potential upside of 33.45% from the stock’s current price.
Several other research analysts also recently commented on the company. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Seaport Research Partners initiated coverage on Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock. Citigroup assumed coverage on Resideo Technologies in a research report on Monday. They set a “market outperform” rating on the stock. Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Finally, Morgan Stanley cut their price objective on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.75.
Read Our Latest Research Report on Resideo Technologies
Resideo Technologies Stock Performance
Shares of REZI stock opened at $16.48 on Monday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 7.29 and a beta of 1.54. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. Resideo Technologies has a 52 week low of $15.90 and a 52 week high of $45.29. The firm’s 50-day simple moving average is $19.22 and its two-hundred day simple moving average is $28.64.
Resideo Technologies (NYSE:REZI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.36. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, equities analysts forecast that Resideo Technologies will post 2.16 earnings per share for the current year.
Insider Activity
In related news, CEO Thomas A. Surran bought 15,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 338,573 shares in the company, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Amit Mehta acquired 10,928 shares of the stock in a transaction on Monday, August 17th. The stock was bought at an average price of $20.68 per share, with a total value of $225,991.04. Following the completion of the acquisition, the senior vice president directly owned 57,362 shares of the company’s stock, valued at $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 41,245 shares of company stock valued at $848,115. Insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On Resideo Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP bought a new position in Resideo Technologies during the 2nd quarter valued at approximately $28,000. State of Wyoming purchased a new position in Resideo Technologies during the second quarter valued at $91,000. GAMMA Investing LLC raised its stake in Resideo Technologies by 15.2% during the third quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock valued at $123,000 after buying an additional 896 shares during the last quarter. Nykredit A S purchased a new position in Resideo Technologies during the second quarter valued at $132,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Resideo Technologies in the second quarter worth $132,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.
Resideo Technologies Company Profile
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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