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

Resideo Technologies, Inc. (NYSE:REZI)’s stock price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $18.14 and last traded at $18.3250, with a volume of 392930 shares traded. The stock had previously closed at $18.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on REZI shares. JPMorgan Chase & Co. began coverage on Resideo Technologies in a research note on Friday, August 7th. They set a “neutral” rating and a $30.00 price target for the company. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Zacks Research cut shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Finally, 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 target price for the company. 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 stock. According to MarketBeat.com, Resideo Technologies currently has an average rating of “Hold” and a consensus target price of $37.50.

Resideo Technologies Stock Down 0.0%

The company has a 50-day moving average of $23.76 and a two-hundred day moving average of $30.42. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41. The company has a market capitalization of $2.78 billion, a PE ratio of 8.10 and a beta of 1.60.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that Resideo Technologies, Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Amit Mehta purchased 10,928 shares of the stock in a transaction on Monday, August 17th. The shares were acquired at an average price of $20.68 per share, with a total value of $225,991.04. Following the completion of the acquisition, the senior vice president directly owned 57,362 shares of the company’s stock, valued at $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas A. Surran purchased 15,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was purchased at an average price of $20.46 per share, with a total value of $306,900.00. Following the completion of the transaction, the chief executive officer owned 338,573 shares of the company’s stock, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 41,245 shares of company stock valued at $848,115. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Resideo Technologies

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP bought a new position in shares of Resideo Technologies in the second quarter worth about $28,000. State of Wyoming bought a new position in shares of Resideo Technologies during the second quarter worth $91,000. Nykredit A S purchased a new position in Resideo Technologies during the second quarter valued at $132,000. Integrated Wealth Concepts LLC bought a new stake in Resideo Technologies in the 2nd quarter valued at $132,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Resideo Technologies by 209.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,889 shares of the company’s stock valued at $137,000 after acquiring an additional 2,632 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

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.