Resideo Technologies (NYSE:REZI) Lowered to “Neutral” at Bank of America

Bank of America cut shares of Resideo Technologies (NYSE:REZI) from a buy rating to a neutral rating in a research note released on Wednesday morning, The Fly reports.

REZI has been the topic of several other reports. Oppenheimer lowered shares of Resideo Technologies from an outperform rating to a market perform rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Resideo Technologies from a strong sell rating to a hold rating in a research report on Tuesday, October 15th. Finally, Imperial Capital reiterated an outperform rating and issued a $25.00 price target (down from $26.00) on shares of Resideo Technologies in a research report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Resideo Technologies has a consensus rating of Hold and an average price target of $20.00.

Shares of REZI stock traded down $0.23 during trading hours on Wednesday, hitting $9.27. The company’s stock had a trading volume of 4,110,600 shares, compared to its average volume of 1,196,401. The business has a fifty day moving average of $14.29 and a 200-day moving average of $18.36. The stock has a market cap of $1.87 billion and a price-to-earnings ratio of 3.75. Resideo Technologies has a twelve month low of $8.60 and a twelve month high of $28.67. The company has a current ratio of 1.18, a quick ratio of 0.72 and a debt-to-equity ratio of 0.73.

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

Several hedge funds have recently added to or reduced their stakes in REZI. Steward Partners Investment Advisory LLC acquired a new stake in Resideo Technologies during the second quarter worth approximately $33,000. Machina Capital S.A.S. boosted its position in Resideo Technologies by 828.1% during the second quarter. Machina Capital S.A.S. now owns 1,550 shares of the company’s stock worth $34,000 after acquiring an additional 1,383 shares during the last quarter. Employers Holdings Inc. acquired a new stake in Resideo Technologies during the second quarter worth approximately $35,000. Captrust Financial Advisors boosted its position in Resideo Technologies by 84.6% during the second quarter. Captrust Financial Advisors now owns 1,663 shares of the company’s stock worth $36,000 after acquiring an additional 762 shares during the last quarter. Finally, Investors Research Corp boosted its position in Resideo Technologies by 73,333.3% during the second quarter. Investors Research Corp now owns 2,203 shares of the company’s stock worth $48,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 78.33% 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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