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REZI

Resideo

$15.17

0.03 (0.20%)

17:27
10/22/19
10/22
17:27
10/22/19
17:27

Resideo cuts FY19 revenue growth view to 2%-4% from 2%-5%, consensus $5.02B

The company's new generation security products and connected thermostats have experienced solid growth. However, with the transition, these products have yet to benefit from lifecycle value engineering, adversely impacting full-year 2019 Products & Solutions segment gross margins. The company is actively investing in its value engineering team and expects meaningful improvement to gross margins over the next 18 months. As a result, the company is updating its full-year 2019 adjusted EBITDA guidance to be in the range of $330 million to $350 million, compared to previously expected $410 million to $430 million. The company also is updating its full-year 2019 guidance for revenue growth to 2% to 4%, as compared to previously expected 2% to 5%.

REZI Resideo
$15.17

0.03 (0.20%)

12/06/18
BOFA
12/06/18
INITIATION
Target $28
BOFA
Buy
Resideo initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Peter Galbo initiated Residio with a Buy and $28 price target. Galbo expects management to execute on 4%+ organic sales growth driven by growth in the connected home space, a residential thermal solutions replacement cycle, and leveraging relationships in the contractor channel.
03/12/19
IMPC
03/12/19
INITIATION
Target $24
IMPC
Outperform
Resideo initiated with an Outperform at Imperial Capital
Imperial Capital analyst Saliq Khan started Resideo Technologies with an Outperform rating and $24 price target. The company has a "significant presence" in the connected premises software solutions market with 4.7M connected customers and 2.3M security panel signals transmitted daily, Khan tells investors in a research note. The analyst expects Resideo's leading market share to grow.
03/12/19
03/12/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Snap (SNAP) initiated with an Overweight at Consumer Edge. 2. Crinetics (CRNX) initiated with an Overweight at Cantor Fitzgerald. 3. Tellurian (TELL) initiated with a Buy at BTIG. 4. Stealth Biotherapeutics (MITO) initiated with an Outperform at Evercore ISI, a Buy at Nomura Instinet, and a Hold at Jefferies. 5. Resideo (REZI) initiated with an Outperform at Imperial Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/13/19
OPCO
08/13/19
NO CHANGE
Target $20
OPCO
Outperform
Resideo price target lowered to $20 from $30 at Oppenheimer
Oppenheimer analyst Ian Zaffino lowered his price target for Resideo to $20 from $30 as he is concerned with the company's margin profile over the next 2-3 years. The analyst believes Resideo could face a permanently lower margin profile in security, as well as increased investment spend and near-term headwinds created by its transition from high-margin, non-connected devices to lower-margin, connected devices. Zaffino has an Outperform rating on the shares.

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XXII

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