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

Resideo Technologies, Inc. (NYSE:REZI) shares reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $17.73 and last traded at $17.90, with a volume of 46577 shares trading hands. The stock had previously closed at $18.12.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They set a “neutral” rating and a $30.00 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. Zacks Research downgraded shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Finally, Evercore started coverage on shares of Resideo Technologies in a research note on Monday. They issued an “outperform” rating and a $30.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.00.

Resideo Technologies Stock Performance

The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $30.15. The company has a market capitalization of $2.74 billion, a P/E ratio of 7.97 and a beta of 1.60.

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 business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities analysts forecast that Resideo Technologies, Inc. will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Joshua Foster acquired 15,317 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $20.58 per share, with a total value of $315,223.86. Following the completion of the acquisition, the senior vice president owned 183,509 shares in the company, valued at approximately $3,776,615.22. This represents a 9.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Amit Mehta acquired 10,928 shares of the company’s 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 acquisition, the senior vice president owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This represents a 23.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 41,245 shares of company stock valued at $848,115. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Resideo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of REZI. WINTON GROUP Ltd boosted its stake in Resideo Technologies by 136.5% in the second quarter. WINTON GROUP Ltd now owns 17,500 shares of the company’s stock worth $544,000 after purchasing an additional 10,100 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Resideo Technologies in the second quarter valued at $132,000. IFP Advisors Inc increased its stake in shares of Resideo Technologies by 33.1% in the second quarter. IFP Advisors Inc now owns 4,670 shares of the company’s stock valued at $145,000 after buying an additional 1,162 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Resideo Technologies by 85.8% in the second quarter. Squarepoint Ops LLC now owns 166,835 shares of the company’s stock valued at $5,189,000 after buying an additional 77,065 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Resideo Technologies by 1.5% in the second quarter. Arizona State Retirement System now owns 37,560 shares of the company’s stock valued at $1,168,000 after buying an additional 567 shares during the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

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.