Resideo Technologies, Inc. (NYSE:REZI) Stock Has Consensus Target Price of $31.75

Resideo Technologies, Inc. (NYSE:REZI) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $31.75.

Several research analysts have commented on the company. Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. 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 objective on the stock. Zacks Research raised Resideo Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Finally, Evercore assumed coverage on Resideo Technologies in a report on Monday, September 28th. They set an “outperform” rating and a $30.00 target price on the stock.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, CEO Thomas Surran bought 15,000 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average cost 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 approximately $6,927,203.58. The trade was a 4.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Amit Mehta bought 10,928 shares of the stock in a transaction dated Monday, August 17th. The shares were acquired at an average price of $20.68 per share, with a total value of $225,991.04. Following the completion of the purchase, 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 SEC filing for this purchase provides additional information. Insiders bought a total of 41,245 shares of company stock valued at $848,115 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Resideo Technologies

A number of hedge funds have recently bought and sold shares of REZI. Allworth Financial LP acquired a new position in shares of Resideo Technologies in the 2nd quarter valued at approximately $28,000. Sterling Capital Management LLC boosted its stake in shares of Resideo Technologies by 27.0% during the 3rd quarter. Sterling Capital Management LLC now owns 3,015 shares of the company’s stock valued at $55,000 after buying an additional 641 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Resideo Technologies during the 3rd quarter valued at approximately $56,000. State of Wyoming purchased a new position in shares of Resideo Technologies during the 2nd quarter valued at approximately $91,000. Finally, GAMMA Investing LLC grew its position in shares of Resideo Technologies by 15.2% during the third quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock worth $123,000 after buying an additional 896 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Trading Up 3.3%

Shares of REZI stock opened at $20.05 on Tuesday. 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 fifty-two week low of $15.90 and a fifty-two week high of $42.95. The firm’s 50 day moving average price is $18.41 and its two-hundred day moving average price is $29.43. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 8.87 and a beta of 1.58.

Resideo Technologies (NYSE:REZI) last issued its 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 business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. On average, analysts anticipate that Resideo Technologies will post 2.16 EPS for the current year.

Resideo Technologies Company Profile

Resideo Technologies is a provider of products and services for home comfort, safety, security and energy management. Its offerings include thermostats and other heating and cooling controls, indoor air quality products, water leak detection devices, fire and carbon monoxide alarms, and security systems. Products are sold under brands that include Honeywell Home and First Alert.

The company also operates ADI Global Distribution, a distributor of security, audio-visual, communications and smart-home products.