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

Resideo Technologies (NYSE:REZI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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 restated an “outperform” rating and set a $26.00 target price (up previously from $24.00) on shares of Resideo Technologies in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $26.00.

Shares of REZI opened at $21.50 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.19. Resideo Technologies has a 1 year low of $17.60 and a 1 year high of $28.67. The company has a market capitalization of $2.64 billion and a PE ratio of 8.70. The stock’s 50-day moving average is $20.85.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Wednesday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. Equities analysts expect that Resideo Technologies will post 1.39 earnings per share for the current fiscal year.

In other Resideo Technologies news, EVP Stephen Montgomery Kelly acquired 2,530 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were acquired at an average price of $19.67 per share, for a total transaction of $49,765.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael G. Nefkens acquired 4,964 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average price of $20.26 per share, for a total transaction of $100,570.64. The disclosure for this purchase can be found here. Insiders have bought a total of 20,081 shares of company stock worth $407,126 in the last quarter. 0.09% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in REZI. Fort L.P. bought a new stake in Resideo Technologies in the 4th quarter valued at approximately $27,000. Dubuque Bank & Trust Co. bought a new stake in Resideo Technologies in the 1st quarter valued at approximately $28,000. 1832 Asset Management L.P. bought a new stake in Resideo Technologies in the 4th quarter valued at approximately $29,000. Northern Oak Wealth Management Inc. bought a new stake in Resideo Technologies in the 4th quarter valued at approximately $31,000. Finally, Bronfman E.L. Rothschild L.P. bought a new stake in Resideo Technologies in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds 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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