Resideo Technologies (NYSE:REZI) Stock Gets Price Target Reduction from Oppenheimer

Resideo Technologies (NYSE:REZI) had its target price cut by Oppenheimer from $27.00 to $25.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. Citigroup began coverage on shares of Resideo Technologies in a research report on Monday, October 19th. They set a “market outperform” rating for the company. Evercore initiated coverage on Resideo Technologies in a research report on Monday, September 28th. They set an “outperform” rating and a $30.00 target price on the stock. 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 target price for the company. Weiss Ratings cut Resideo Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Finally, Zacks Research upgraded Resideo Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.33.

Resideo Technologies Price Performance

Shares of NYSE REZI opened at $21.32 on Wednesday. The stock has a market cap of $3.24 billion, a P/E ratio of 14.31 and a beta of 1.58. Resideo Technologies has a twelve month low of $15.90 and a twelve month high of $42.95. The stock has a 50 day moving average of $18.56 and a two-hundred day moving average of $29.14. The company has a current ratio of 1.42, a quick ratio of 1.41 and a debt-to-equity ratio of 3.40.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Tuesday, November 10th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. Resideo Technologies had a net margin of 4.50% and a return on equity of 19.24%. The business had revenue of $727.00 million for the quarter, compared to analyst estimates of $712.64 million. During the same period last year, the firm posted $0.89 earnings per share. The company’s revenue for the quarter was down 61.0% compared to the same quarter last year. On average, research analysts forecast that Resideo Technologies will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Amit Mehta purchased 10,928 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were bought at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the acquisition, the senior vice president directly owned 57,362 shares in the company, valued at $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Resideo Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Resideo Technologies during the second quarter worth $673,214,000. Pzena Investment Management LLC raised its holdings in Resideo Technologies by 119.3% during the third quarter. Pzena Investment Management LLC now owns 3,699,890 shares of the company’s stock valued at $67,153,000 after buying an additional 2,013,125 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Resideo Technologies by 1,457.8% in the third quarter. Marshall Wace LLP now owns 1,504,928 shares of the company’s stock worth $27,314,000 after buying an additional 1,408,324 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Resideo Technologies in the second quarter worth about $32,325,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Resideo Technologies during the 2nd quarter worth about $28,117,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

About Resideo Technologies

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.