Resideo Technologies (NYSE:REZI) Reaches New 1-Year Low – Here’s Why

Resideo Technologies, Inc. (NYSE:REZI)’s stock price hit a new 52-week low during trading on Tuesday . The stock 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.

Analyst Ratings Changes

Several research firms have weighed in on REZI. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Seaport Research Partners assumed coverage on Resideo Technologies in a research report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 target price for the company. Zacks Research downgraded Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Finally, Morgan Stanley lowered their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.00.

Resideo Technologies Price Performance

The company has a market capitalization of $2.94 billion, a PE ratio of 8.55 and a beta of 1.60. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The stock has a 50 day moving average price of $28.49 and a two-hundred day moving average price of $32.53.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating 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 analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that Resideo Technologies, Inc. will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other Resideo Technologies news, SVP Amit Ashvin Mehta purchased 10,928 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were acquired at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the acquisition, the senior vice president 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 can be accessed through the SEC website. Also, SVP Joshua Peter Foster acquired 15,317 shares of Resideo Technologies stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $20.58 per share, with a total value of $315,223.86. Following the purchase, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. The trade was a 9.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 41,245 shares of company stock valued at $848,115 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Resideo Technologies

Several institutional investors have recently bought and sold shares of REZI. BlackRock Inc. bought a new stake in shares of Resideo Technologies during the 2nd quarter worth about $673,214,000. California State Teachers Retirement System lifted its holdings in Resideo Technologies by 3,036.4% in the 2nd quarter. California State Teachers Retirement System now owns 4,879,839 shares of the company’s stock worth $156,908,000 after purchasing an additional 4,724,252 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Resideo Technologies by 1,325.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company’s stock worth $81,553,000 after purchasing an additional 1,756,131 shares during the last quarter. Clayton Dubilier & Rice LLC boosted its position in Resideo Technologies by 12.7% during the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock worth $525,962,000 after purchasing an additional 1,689,758 shares during the period. Finally, Pzena Investment Management LLC bought a new stake in Resideo Technologies during the second quarter worth approximately $52,458,000. 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.