Resideo Technologies Inc (REZI) Receives a Buy from Oppenheimer

By Austin Angelo

Oppenheimer analyst Ian Zaffino reiterated a Buy rating on Resideo Technologies Inc (REZIResearch Report) yesterday and set a price target of $30. The company’s shares closed yesterday at $22.86.

Zaffino said:

“Driven by strength in both Distribution and Products & Solutions, adjusted EBITDA of $92M well surpassed our $82M. The successful launch of the company’s next generation security system and growth at ADI drove revenues to $1,216M, vs. our $1,188M. Management reiterated FY2019 guidance, calling for revenue growth of 2-5% YoY and EBITDA of $410M-$430M. Maintain Outperform.”

According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.7% and a 55.7% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.

Resideo Technologies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $27.

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Based on Resideo Technologies Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.27 billion and net profit of $16 million. In comparison, last year the company earned revenue of $1.17 billion and had a net profit of $45 million.

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Resideo Technologies, Inc. provides critical comfort, residential thermal solutions and security solutions primarily in residential environments. It operates through the following segments: Products & Solutions and Global Distribution. The products and Solutions Segment is separated into Comfort, Residential Thermal Solutions (RTS) and Security.