Resideo Technologies (NYSE:REZI) Sets New 1-Year Low – Here’s What Happened

Shares of Resideo Technologies, Inc. (NYSE:REZI) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $18.96 and last traded at $19.2820, with a volume of 110270 shares trading hands. The stock had previously closed at $19.36.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Seaport Research Partners assumed coverage on shares of Resideo Technologies in a report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. assumed coverage on Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Zacks Research lowered Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Resideo Technologies has a consensus rating of “Hold” and a consensus target price of $41.00.

Resideo Technologies Trading Down 0.5%

The firm has a fifty day moving average of $28.97 and a two-hundred day moving average of $32.76. The company has a market cap of $2.92 billion, a PE ratio of 8.53 and a beta of 1.63. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI) last posted its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.36. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. As a group, sell-side analysts predict that Resideo Technologies, Inc. will post 2.5 EPS for the current year.

Insider Buying and Selling at Resideo Technologies

In related news, SVP Joshua Peter Foster bought 15,317 shares of the business’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the purchase, the senior vice president directly owned 183,509 shares in the company, valued at $3,776,615.22. This trade represents a 9.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas A. Surran bought 15,000 shares of Resideo Technologies stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $20.46 per share, with a total value of $306,900.00. Following the acquisition, the chief executive officer directly owned 338,573 shares in the company, valued at approximately $6,927,203.58. This represents a 4.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 41,245 shares of company stock valued at $848,115 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Resideo Technologies

A number of large investors have recently modified their holdings of REZI. Larson Financial Group LLC increased its holdings in Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after acquiring an additional 420 shares during the period. Danske Bank A S boosted its holdings in Resideo Technologies by 600.0% in the 4th quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 600 shares during the period. Allworth Financial LP purchased a new position in shares of Resideo Technologies during the 2nd quarter valued at $28,000. McMillan Office Inc. bought a new position in shares of Resideo Technologies in the fourth quarter worth $33,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Resideo Technologies in the fourth quarter worth $34,000. 91.71% of the stock is currently owned by institutional investors.

About Resideo Technologies

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.