Resideo Technologies (NYSE:REZI) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of Resideo Technologies (NYSE:REZI) from a buy rating to a hold rating in a report released on Thursday, Zacks.com reports.

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 reaffirmed an outperform rating and issued a $26.00 price target (up from $24.00) on shares of Resideo Technologies in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Resideo Technologies currently has a consensus rating of Buy and a consensus price target of $26.00.

Shares of Resideo Technologies stock opened at $21.50 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 0.74. The stock has a 50 day moving average of $20.85. The stock has a market cap of $2.64 billion and a PE ratio of 8.70. Resideo Technologies has a one year low of $17.60 and a one year high of $28.67.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. As a group, sell-side analysts forecast that Resideo Technologies will post 1.39 earnings per share for the current year.

In related news, insider Masi Niccolo De purchased 4,837 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were acquired at an average cost of $20.68 per share, with a total value of $100,029.16. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael G. Nefkens purchased 4,964 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $20.26 per share, for a total transaction of $100,570.64. The disclosure for this purchase can be found here. Insiders acquired a total of 20,081 shares of company stock worth $407,126 over the last ninety days. Insiders own 0.09% of the company’s stock.

Several hedge funds have recently modified their holdings of REZI. BlackRock Inc. bought a new stake in shares of Resideo Technologies in the 4th quarter worth approximately $209,847,000. FMR LLC bought a new stake in shares of Resideo Technologies in the 4th quarter worth approximately $87,759,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Resideo Technologies in the 4th quarter worth approximately $57,581,000. Bank of New York Mellon Corp bought a new stake in shares of Resideo Technologies in the 4th quarter worth approximately $27,797,000. Finally, Northern Trust Corp bought a new stake in shares of Resideo Technologies in the 4th quarter worth approximately $23,443,000. Hedge funds and other institutional investors own 74.65% of the company’s stock.

Resideo Technologies Company Profile

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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