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

REZI opened at $21.50 on Thursday. Resideo Technologies has a 1-year low of $17.60 and a 1-year high of $28.67. 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 company has a market capitalization of $2.64 billion and a PE ratio of 8.70. The company has a 50 day simple moving average of $20.85.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. Equities research analysts anticipate that Resideo Technologies will post 1.39 EPS for the current fiscal year.

In other news, CFO Joseph Douglas Ragan III bought 6,300 shares of Resideo Technologies stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $20.05 per share, with a total value of $126,315.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Montgomery Kelly bought 2,530 shares of Resideo Technologies stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average cost of $19.67 per share, with a total value of $49,765.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 20,081 shares of company stock valued at $407,126. 0.09% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Resideo Technologies during the fourth quarter valued at $209,847,000. FMR LLC lifted its holdings in shares of Resideo Technologies by 8.4% during the first quarter. FMR LLC now owns 4,627,312 shares of the company’s stock valued at $89,261,000 after acquiring an additional 356,787 shares during the period. Investec Asset Management LTD lifted its holdings in shares of Resideo Technologies by 6.3% during the first quarter. Investec Asset Management LTD now owns 3,146,256 shares of the company’s stock valued at $60,691,000 after acquiring an additional 186,389 shares during the period. D. E. Shaw & Co. Inc. bought a new position in shares of Resideo Technologies during the fourth quarter valued at $57,581,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Resideo Technologies during the fourth quarter valued at $27,797,000. 74.65% of the stock is owned by institutional investors.

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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