Resideo Technologies, Inc. (NYSE:REZI) Stock Has Average Target Price of $31.75 According to Brokerages

Shares of Resideo Technologies, Inc. (NYSE:REZI – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $31.75.

A number of equities research analysts have recently weighed in on the stock. Citizens Jmp began coverage on shares of Resideo Technologies in a research note on Monday, October 19th. They issued a “market outperform” rating and a $22.00 price target on the stock. Zacks Research raised shares of Resideo Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Morgan Stanley lowered 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. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Finally, Citigroup started coverage on shares of Resideo Technologies in a research note on Monday, October 19th. They issued a “market outperform” rating for the company.

Read Our Latest Stock Analysis on Resideo Technologies

Insiders Place Their Bets

In other news, SVP Amit Mehta purchased 10,928 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the purchase, the senior vice president owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. The trade was a 23.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas A. Surran purchased 15,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $20.46 per share, with a total value of $306,900.00. Following the completion of the purchase, the chief executive officer directly owned 338,573 shares in the company, valued at $6,927,203.58. The trade was a 4.64% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 41,245 shares of company stock valued at $848,115. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Resideo Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of REZI. BlackRock Inc. bought a new position in Resideo Technologies in the second quarter valued at about $673,214,000. Pzena Investment Management LLC boosted its stake in shares of Resideo Technologies by 119.3% during the third quarter. Pzena Investment Management LLC now owns 3,699,890 shares of the company’s stock valued at $67,153,000 after purchasing an additional 2,013,125 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Resideo Technologies during the second quarter valued at about $32,325,000. Bank of New York Mellon Corp acquired a new stake in shares of Resideo Technologies during the second quarter valued at about $28,117,000. Finally, J. Goldman & Co LP bought a new stake in shares of Resideo Technologies during the second quarter worth about $17,983,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Stock Performance

NYSE:REZI opened at $19.23 on Tuesday. The stock’s 50-day simple moving average is $18.41 and its 200 day simple moving average is $29.86. The firm has a market capitalization of $2.92 billion, a PE ratio of 8.51 and a beta of 1.54. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. Resideo Technologies has a twelve month low of $15.90 and a twelve month high of $43.04.

Resideo Technologies (NYSE:REZI – Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. On average, analysts anticipate that Resideo Technologies will post 2.16 EPS for the current fiscal year.

Resideo Technologies Company Profile

(Get Free Report)

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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Analyst Recommendations for Resideo Technologies (NYSE:REZI)

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