Zacks Research upgraded shares of Resideo Technologies (NYSE:REZI – Free Report) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks reports.
REZI has been the topic of a number of other reports. Evercore initiated coverage on shares of Resideo Technologies in a research report on Monday, September 28th. They issued an “outperform” rating and a $30.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Seaport Research Partners began coverage on shares of Resideo Technologies in a report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Resideo Technologies in a research note on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.00.
Get Our Latest Research Report on Resideo Technologies
Resideo Technologies Price Performance
Resideo Technologies (NYSE:REZI – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts expect that Resideo Technologies will post 2.16 earnings per share for the current year.
Insider Buying and Selling
In related news, SVP Amit Mehta bought 10,928 shares of the company’s stock in a transaction on Monday, August 17th. The shares were purchased at an average cost of $20.68 per share, with a total value of $225,991.04. Following the completion of the transaction, the senior vice president directly owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Surran bought 15,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the purchase, the chief executive officer directly owned 338,573 shares of the company’s stock, valued at $6,927,203.58. The trade was a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 41,245 shares of company stock worth $848,115 in the last three months. 1.60% of the stock is owned by insiders.
Institutional Trading of Resideo Technologies
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Resideo Technologies during the second quarter valued at $673,214,000. Dimensional Fund Advisors LP raised its stake in shares of Resideo Technologies by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock valued at $262,505,000 after purchasing an additional 64,613 shares in the last quarter. Swedbank AB lifted its holdings in Resideo Technologies by 13.6% in the first quarter. Swedbank AB now owns 2,665,123 shares of the company’s stock worth $89,841,000 after purchasing an additional 318,204 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Resideo Technologies by 3.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,069,509 shares of the company’s stock worth $69,763,000 after purchasing an additional 71,092 shares during the period. Finally, Pzena Investment Management LLC acquired a new stake in Resideo Technologies in the second quarter worth about $52,458,000. 91.71% of the stock is currently owned by institutional investors.
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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