Resideo Technologies (NYSE:REZI) PT Lowered to $23.00 at Morgan Stanley

Resideo Technologies (NYSE:REZIGet Rating) had its target price lowered by stock analysts at Morgan Stanley from $26.00 to $23.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 34.03% from the company’s current price.

Separately, Imperial Capital lowered shares of Resideo Technologies from an “outperform” rating to an “in-line” rating and set a $27.00 target price on the stock. in a research report on Wednesday, November 2nd.

Resideo Technologies Stock Down 1.4 %

REZI stock opened at $17.16 on Wednesday. The firm has a market cap of $2.50 billion, a PE ratio of 8.25 and a beta of 1.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.59. The firm’s fifty day moving average is $16.59 and its 200 day moving average is $19.43. Resideo Technologies has a one year low of $14.95 and a one year high of $27.07.

Resideo Technologies (NYSE:REZIGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.15). Resideo Technologies had a net margin of 4.96% and a return on equity of 13.22%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.68 billion. On average, research analysts forecast that Resideo Technologies will post 2.01 EPS for the current year.

Institutional Trading of Resideo Technologies

Several institutional investors have recently modified their holdings of REZI. Ariel Investments LLC grew its position in shares of Resideo Technologies by 48.9% in the first quarter. Ariel Investments LLC now owns 8,889,988 shares of the company’s stock valued at $211,848,000 after purchasing an additional 2,918,450 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Resideo Technologies by 13.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,922,481 shares of the company’s stock worth $93,477,000 after buying an additional 474,448 shares in the last quarter. Freshford Capital Management LLC lifted its stake in shares of Resideo Technologies by 13.6% in the third quarter. Freshford Capital Management LLC now owns 3,023,371 shares of the company’s stock worth $57,625,000 after buying an additional 361,284 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Resideo Technologies by 2.1% in the first quarter. Vanguard Group Inc. now owns 15,677,719 shares of the company’s stock worth $373,600,000 after buying an additional 326,608 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of Resideo Technologies by 6.6% in the third quarter. Neuberger Berman Group LLC now owns 3,937,182 shares of the company’s stock worth $75,139,000 after buying an additional 244,625 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

About Resideo Technologies

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Resideo Technologies, Inc develops, manufactures, and sells comfort, residential thermal, and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products & Solutions, and ADI Global Distribution.

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