Analysts Set Resideo Technologies, Inc. (NYSE:REZI) PT at $39.67

Resideo Technologies, Inc. (NYSE:REZI) has received a consensus recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.6667.

Several research firms have recently issued reports on REZI. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a report on Friday, March 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a report on Tuesday, April 21st. Finally, Morgan Stanley upped their price objective on shares of Resideo Technologies from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th.

Hedge Funds Weigh In On Resideo Technologies

Several hedge funds have recently modified their holdings of the stock. Clayton Dubilier & Rice LLC increased its holdings in Resideo Technologies by 130.3% in the 3rd quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company’s stock worth $573,706,000 after buying an additional 7,516,233 shares during the period. Franklin Resources Inc. grew its stake in shares of Resideo Technologies by 1,325.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company’s stock worth $81,553,000 after purchasing an additional 1,756,131 shares during the period. Sachem Head Capital Management LP acquired a new stake in shares of Resideo Technologies during the 4th quarter worth approximately $57,070,000. Norges Bank purchased a new position in shares of Resideo Technologies during the 4th quarter valued at approximately $56,059,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Resideo Technologies by 365.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,966,157 shares of the company’s stock valued at $84,899,000 after buying an additional 1,543,952 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Stock Performance

Shares of Resideo Technologies stock opened at $39.76 on Friday. The company has a market capitalization of $6.02 billion, a PE ratio of -9.87 and a beta of 1.75. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.14 and a current ratio of 1.91. The company has a 50-day simple moving average of $37.04 and a two-hundred day simple moving average of $36.26. Resideo Technologies has a one year low of $19.65 and a one year high of $45.29.

Resideo Technologies Company Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.