Resideo Technologies (NYSE:REZI) Raised to Hold at Zacks Investment Research

Resideo Technologies (NYSE:REZI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, 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. “

A number of other analysts also recently issued reports on REZI. Imperial Capital reaffirmed an “outperform” rating and set a $25.00 price objective (down from $26.00) on shares of Resideo Technologies in a report on Thursday, July 18th. Oppenheimer dropped their price objective on shares of Resideo Technologies from $30.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.25.

Shares of NYSE:REZI opened at $14.39 on Tuesday. The firm has a fifty day moving average price of $14.19 and a two-hundred day moving average price of $18.59. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.18 and a quick ratio of 0.72. Resideo Technologies has a one year low of $12.99 and a one year high of $28.67. The company has a market cap of $1.76 billion and a price-to-earnings ratio of 5.83.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). Resideo Technologies had a net margin of 7.39% and a return on equity of 9.67%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Equities research analysts expect that Resideo Technologies will post 1.37 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of REZI. Selz Capital LLC purchased a new position in shares of Resideo Technologies during the third quarter valued at about $6,130,000. Buffington Mohr McNeal increased its position in shares of Resideo Technologies by 2.0% during the third quarter. Buffington Mohr McNeal now owns 83,876 shares of the company’s stock valued at $1,204,000 after buying an additional 1,630 shares during the period. State of Alaska Department of Revenue increased its position in shares of Resideo Technologies by 43.2% during the third quarter. State of Alaska Department of Revenue now owns 21,837 shares of the company’s stock valued at $313,000 after buying an additional 6,589 shares during the period. Stonebridge Capital Advisors LLC bought a new stake in Resideo Technologies during the second quarter worth about $88,000. Finally, Doyle Wealth Management bought a new stake in Resideo Technologies during the second quarter worth about $67,000. 78.06% of the stock is owned by institutional investors.

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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