Zacks Investment Research upgraded shares of Resideo Technologies (NYSE:REZI) from a sell rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. The firm currently has $24.00 target price on the stock.
According to Zacks, “Resideo Technologies Inc. provides critical comfort and security solutions primarily in residential environments and distributor of low-voltage and security products. Resideo Technologies Inc. is based in GOLDEN VALLEY, United States. “
Separately, Imperial Capital reiterated an outperform rating and issued a $26.00 price target (up from $24.00) on shares of Resideo Technologies in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $26.00.
Shares of NYSE REZI opened at $21.50 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.19. The business has a 50 day simple moving average of $20.85. Resideo Technologies has a fifty-two week low of $17.60 and a fifty-two week high of $28.67. The stock has a market capitalization of $2.64 billion and a P/E ratio of 8.70.
Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Research analysts expect that Resideo Technologies will post 1.39 EPS for the current year.
In other news, CFO Joseph Douglas Ragan III acquired 6,300 shares of Resideo Technologies stock in a transaction on Wednesday, June 5th. The shares were bought at an average cost of $20.05 per share, for a total transaction of $126,315.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Montgomery Kelly acquired 2,530 shares of Resideo Technologies stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $19.67 per share, for a total transaction of $49,765.10. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 20,081 shares of company stock worth $407,126. Company insiders own 0.09% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fort L.P. purchased a new position in Resideo Technologies during the 4th quarter worth $27,000. Dubuque Bank & Trust Co. purchased a new position in Resideo Technologies during the 1st quarter worth $28,000. 1832 Asset Management L.P. purchased a new position in Resideo Technologies during the 4th quarter worth $29,000. Bronfman E.L. Rothschild L.P. purchased a new position in Resideo Technologies during the 4th quarter worth $31,000. Finally, Northern Oak Wealth Management Inc. purchased a new position in Resideo Technologies during the 4th quarter worth $31,000. Institutional investors own 74.65% of the company’s stock.
About Resideo Technologies
Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.
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