Resideo Technologies (NYSE:REZI) Hits New 12-Month Low – Time to Sell?

Resideo Technologies, Inc. (NYSE:REZI) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $20.10 and last traded at $20.10, with a volume of 930796 shares traded. The stock had previously closed at $21.54.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on REZI shares. Morgan Stanley dropped their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. JPMorgan Chase & Co. started coverage on Resideo Technologies in a report on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.00.

Resideo Technologies Trading Down 7.1%

The company has a market cap of $3.04 billion, a PE ratio of 8.85 and a beta of 1.63. The company’s 50 day simple moving average is $30.84 and its two-hundred day simple moving average is $33.65. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.

Insider Activity at Resideo Technologies

In other news, SVP Amit Ashvin Mehta bought 10,928 shares of the company’s stock in a transaction on Monday, August 17th. The stock was bought at an average cost of $20.68 per share, with a total value of $225,991.04. Following the transaction, the senior vice president directly owned 57,362 shares in the company, valued at $1,186,246.16. The trade was a 23.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joshua Peter Foster purchased 15,317 shares of Resideo Technologies stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the transaction, the senior vice president directly owned 183,509 shares of the company’s stock, valued at approximately $3,776,615.22. This represents a 9.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 41,245 shares of company stock worth $848,115 in the last three months. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Resideo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REZI. Danske Bank A S increased its position in shares of Resideo Technologies by 600.0% during the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock worth $25,000 after acquiring an additional 600 shares during the period. Larson Financial Group LLC boosted its holdings in Resideo Technologies by 283.8% in the third quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock valued at $25,000 after purchasing an additional 420 shares during the period. Allworth Financial LP purchased a new position in Resideo Technologies in the second quarter valued at $28,000. McMillan Office Inc. acquired a new position in Resideo Technologies during the 4th quarter worth $33,000. Finally, Kestra Advisory Services LLC purchased a new stake in Resideo Technologies during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Company Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.