Resideo Technologies (NYSE:REZI) Sets New 1-Year Low – Time to Sell?

Resideo Technologies, Inc. (NYSE:REZI) shares reached a new 52-week low on Wednesday . The stock traded as low as $18.50 and last traded at $18.5910, with a volume of 34103 shares changing hands. The stock had previously closed at $18.71.

Analyst Ratings Changes

Several equities research analysts recently issued reports on REZI shares. JPMorgan Chase & Co. initiated coverage on shares of Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price on the stock. Zacks Research downgraded Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Morgan Stanley cut their price objective on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Finally, Seaport Research Partners began coverage on Resideo Technologies in a report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Resideo Technologies currently has an average rating of “Hold” and a consensus price target of $41.00.

Resideo Technologies Stock Up 1.0%

The company’s 50-day simple moving average is $26.34 and its two-hundred day simple moving average is $31.44. The firm has a market capitalization of $2.87 billion, a P/E ratio of 8.38 and a beta of 1.60. 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 issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, research analysts expect that Resideo Technologies, Inc. will post 2.5 earnings per share for the current year.

Insider Buying and Selling at Resideo Technologies

In related news, SVP Amit Mehta acquired 10,928 shares of the stock in a transaction dated Monday, August 17th. The shares were purchased 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 approximately $1,186,246.16. This represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas A. Surran acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $20.46 per share, with a total value of $306,900.00. Following the completion of the purchase, the chief executive officer owned 338,573 shares in the company, valued at $6,927,203.58. This trade represents a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 41,245 shares of company stock valued at $848,115. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Resideo Technologies

Hedge funds have recently modified their holdings of the company. Ancora Advisors LLC purchased a new position in shares of Resideo Technologies in the second quarter valued at about $13,546,000. J. Goldman & Co LP bought a new stake in Resideo Technologies during the 2nd quarter valued at approximately $17,983,000. Hsbc Holdings PLC raised its stake in Resideo Technologies by 659.0% during the 1st quarter. Hsbc Holdings PLC now owns 50,832 shares of the company’s stock valued at $1,706,000 after purchasing an additional 44,135 shares during the period. Quantinno Capital Management LP lifted its holdings in Resideo Technologies by 122.1% in the 1st quarter. Quantinno Capital Management LP now owns 98,948 shares of the company’s stock worth $3,336,000 after purchasing an additional 54,390 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Resideo Technologies in the 1st quarter worth approximately $1,497,000. 91.71% of the stock is currently owned by institutional investors.

About Resideo Technologies

Resideo Technologies, Inc is a technology and manufacturing company that provides products and solutions for residential and commercial buildings. Its offerings are designed to improve security, comfort, energy efficiency, water management and connectivity in homes and other properties.

Through its Products and Solutions segment, Resideo supplies thermostats, heating and cooling controls, indoor air-quality products, water-management systems, security and fire products, video solutions, sensors and connected-home technologies.