Citizens Jmp Initiates Coverage on Resideo Technologies (NYSE:REZI)

Citizens Jmp assumed coverage on shares of Resideo Technologies (NYSE:REZI) in a report released on Monday, MarketBeat.com reports. The brokerage set a “market outperform” rating and a $22.00 price target on the stock. Citizens Jmp’s target price would suggest a potential upside of 28.96% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Seaport Research Partners began coverage on Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target for the company. Citigroup assumed coverage on Resideo Technologies in a research note on Monday. They issued a “market outperform” rating on the stock. Evercore initiated coverage on Resideo Technologies in a research note on Monday, September 28th. They issued an “outperform” rating and a $30.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Finally, Zacks Research upgraded shares of Resideo Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.75.

Resideo Technologies Price Performance

Shares of NYSE REZI opened at $17.06 on Monday. The stock has a fifty day simple moving average of $18.92 and a two-hundred day simple moving average of $28.40. Resideo Technologies has a 1-year low of $15.90 and a 1-year high of $45.29. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 7.55 and a beta of 1.54. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Analysts anticipate that Resideo Technologies will post 2.16 earnings per share for the current year.

Insider Transactions at Resideo Technologies

In other Resideo Technologies news, CEO Thomas A. Surran bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the transaction, the chief executive officer directly owned 338,573 shares in the company, valued at $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joshua Foster bought 15,317 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the transaction, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. This trade represents a 9.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 41,245 shares of company stock valued at $848,115. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Resideo Technologies

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Resideo Technologies during the second quarter valued at approximately $673,214,000. Dimensional Fund Advisors LP increased its stake in shares of Resideo Technologies by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock worth $262,505,000 after buying an additional 64,613 shares during the period. Swedbank AB increased its stake in shares of 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 buying an additional 318,204 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Resideo Technologies by 3.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,069,509 shares of the company’s stock valued at $69,763,000 after buying an additional 71,092 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new stake in Resideo Technologies during the 2nd quarter valued at $52,458,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Resideo Technologies Company Profile

Resideo Technologies, Inc (NYSE: REZI) is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.

Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.