Resideo Technologies (NYSE:REZI) Shares Cross Above 50 Day Moving Average – What’s Next?

Resideo Technologies, Inc. (NYSE:REZI)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $18.45 and traded as high as $18.99. Resideo Technologies shares last traded at $18.82, with a volume of 1,282,154 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on REZI. Morgan Stanley decreased their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. JPMorgan Chase & Co. began coverage on Resideo Technologies in a report on Friday, August 7th. They set a “neutral” rating and a $30.00 target price for the company. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Zacks Research raised Resideo Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Finally, Citigroup started coverage on Resideo Technologies in a report on Monday, October 19th. They set a “market outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

Resideo Technologies Trading Up 2.8%

The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.86 billion, a PE ratio of 8.33 and a beta of 1.54. The company’s 50-day moving average is $18.45 and its 200 day moving average is $30.05.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. As a group, sell-side analysts predict that Resideo Technologies, Inc. will post 2.16 EPS for the current year.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, CEO Thomas A. Surran acquired 15,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the transaction, the chief executive officer owned 338,573 shares of the company’s stock, valued at $6,927,203.58. The trade was a 4.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joshua Foster bought 15,317 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the purchase, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 41,245 shares of company stock valued at $848,115. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Resideo Technologies

Several institutional investors have recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in Resideo Technologies in the 2nd quarter worth approximately $28,000. State of Wyoming acquired a new stake in shares of Resideo Technologies during the 2nd quarter valued at $91,000. Sterling Capital Management LLC boosted its stake in shares of Resideo Technologies by 27.0% during the 3rd quarter. Sterling Capital Management LLC now owns 3,015 shares of the company’s stock valued at $55,000 after buying an additional 641 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Resideo Technologies by 209.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,889 shares of the company’s stock worth $137,000 after acquiring an additional 2,632 shares during the last quarter. Finally, Nykredit A S acquired a new position in shares of Resideo Technologies in the second quarter worth $132,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

About Resideo Technologies

Resideo Technologies, Inc (NYSE: REZI) is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.

Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.