Resideo Technologies, Inc. (NYSE:REZI – Get Free Report) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $18.45 and traded as high as $18.99. Resideo Technologies shares last traded at $18.82, with a volume of 1,282,154 shares traded.
Analysts Set New Price Targets
A number of analysts have commented on the company. Zacks Research upgraded Resideo Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Morgan Stanley lowered their target price on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. started coverage on Resideo Technologies in a research note on Friday, August 7th. They set a “neutral” rating and a $30.00 price target for the company. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.75.
View Our Latest Report on Resideo Technologies
Resideo Technologies Trading Down 0.4%
The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average of $18.43 and a 200-day moving average of $29.95. The stock has a market cap of $2.84 billion, a PE ratio of 8.29 and a beta of 1.54.
Resideo Technologies (NYSE:REZI – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $0.66 earnings per share. Resideo Technologies’s revenue was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Resideo Technologies, Inc. will post 2.16 EPS for the current year.
Insider Buying and Selling
In other news, SVP Amit Mehta purchased 10,928 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $20.68 per share, with a total value of $225,991.04. Following the purchase, the senior vice president directly owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas A. Surran purchased 15,000 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $20.46 per share, with a total value of $306,900.00. Following the completion of the acquisition, the chief executive officer owned 338,573 shares of the company’s stock, valued at approximately $6,927,203.58. This represents a 4.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 41,245 shares of company stock worth $848,115. 1.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Resideo Technologies
Several institutional investors and hedge funds have recently modified their holdings of REZI. Ancora Advisors LLC acquired a new position in shares of Resideo Technologies in the 2nd quarter valued at $13,546,000. J. Goldman & Co LP purchased a new stake in shares of Resideo Technologies during the 2nd quarter valued at $17,983,000. Bank of America Corp DE purchased a new stake in shares of Resideo Technologies during the 2nd quarter valued at $32,325,000. Hsbc Holdings PLC increased its holdings in shares of Resideo Technologies by 659.0% during the 1st quarter. Hsbc Holdings PLC now owns 50,832 shares of the company’s stock worth $1,706,000 after buying an additional 44,135 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Resideo Technologies during the 1st quarter worth $1,497,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.
Resideo Technologies Company Profile
Resideo Technologies, Inc (NYSE: REZI) is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.
Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.
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