Resideo Technologies (NYSE:REZI) Downgraded by Zacks Research to Hold

Resideo Technologies (NYSE:REZI) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Resideo Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Morgan Stanley upgraded shares of Resideo Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $24.00 to $35.00 in a research report on Tuesday, August 12th. Oppenheimer upped their price target on shares of Resideo Technologies from $35.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Resideo Technologies in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Resideo Technologies presently has a consensus rating of “Hold” and an average price target of $34.67.

Resideo Technologies Trading Up 4.7%

REZI stock opened at $31.81 on Tuesday. Resideo Technologies has a 52-week low of $14.18 and a 52-week high of $45.29. The company has a quick ratio of 1.07, a current ratio of 1.88 and a debt-to-equity ratio of 1.38. The firm has a market cap of $4.76 billion, a P/E ratio of -6.80 and a beta of 2.22. The company’s 50-day simple moving average is $40.06 and its 200-day simple moving average is $29.72.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.18. Resideo Technologies had a positive return on equity of 14.96% and a negative net margin of 8.85%.The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. Resideo Technologies’s quarterly revenue was up 2.0% compared to the same quarter last year. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS. Q4 2025 guidance at 0.420-0.520 EPS. As a group, equities analysts forecast that Resideo Technologies will post 2.13 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 228,573 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was purchased at an average price of $33.63 per share, with a total value of $7,686,909.99. Following the completion of the acquisition, the insider owned 13,270,734 shares in the company, valued at $446,294,784.42. This trade represents a 1.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nina Richardson sold 3,333 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $34.55, for a total value of $115,155.15. Following the completion of the sale, the director owned 60,675 shares of the company’s stock, valued at approximately $2,096,321.25. The trade was a 5.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders purchased 1,626,639 shares of company stock worth $52,668,272 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Resideo Technologies

Hedge funds have recently made changes to their positions in the company. Clayton Dubilier & Rice LLC lifted its holdings in Resideo Technologies by 130.3% in the third quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company’s stock valued at $573,706,000 after acquiring an additional 7,516,233 shares during the last quarter. Boston Partners grew its holdings in shares of Resideo Technologies by 1.6% during the 1st quarter. Boston Partners now owns 9,954,419 shares of the company’s stock worth $175,640,000 after purchasing an additional 156,536 shares during the period. Ariel Investments LLC increased its position in shares of Resideo Technologies by 5.1% during the 1st quarter. Ariel Investments LLC now owns 9,664,671 shares of the company’s stock worth $171,065,000 after purchasing an additional 465,571 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Resideo Technologies by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,205,405 shares of the company’s stock valued at $145,234,000 after buying an additional 223,063 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Resideo Technologies by 9.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 8,196,828 shares of the company’s stock valued at $145,084,000 after buying an additional 683,714 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.

About Resideo Technologies

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.