Resideo Technologies (NYSE:REZI) Shares Gap Down – Here’s Why

Shares of Resideo Technologies, Inc. (NYSE:REZI) gapped down before the market opened on Thursday . The stock had previously closed at $41.06, but opened at $31.00. Resideo Technologies shares last traded at $31.6640, with a volume of 1,908,045 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on REZI shares. Morgan Stanley upgraded Resideo Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Resideo Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Resideo Technologies in a research report on Wednesday, October 8th. Finally, Oppenheimer raised their price objective on shares of Resideo Technologies from $35.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.67.

Resideo Technologies Stock Down 23.5%

The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $40.35 and a 200-day moving average price of $29.19. The firm has a market cap of $4.67 billion, a P/E ratio of -5.74 and a beta of 2.22.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.18. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS. Q4 2025 guidance at 0.420-0.520 EPS. On average, equities analysts forecast that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Insider Activity at Resideo Technologies

In related news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 228,573 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average price of $33.63 per share, with a total value of $7,686,909.99. Following the completion of the transaction, the insider directly owned 13,270,734 shares in the company, valued at $446,294,784.42. This trade represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina Richardson sold 3,333 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $34.55, for a total value of $115,155.15. Following the sale, the director directly owned 60,675 shares in the company, valued at approximately $2,096,321.25. The trade was a 5.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 3,067,774 shares of company stock valued at $94,106,585 and have sold 86,231 shares valued at $2,709,742. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Resideo Technologies

Several large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Resideo Technologies by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,912 shares of the company’s stock worth $455,000 after acquiring an additional 262 shares during the last quarter. CWM LLC increased its position in shares of Resideo Technologies by 4.3% in the 3rd quarter. CWM LLC now owns 7,263 shares of the company’s stock valued at $314,000 after purchasing an additional 300 shares during the last quarter. Amalgamated Bank increased its position in shares of Resideo Technologies by 1.0% in the 2nd quarter. Amalgamated Bank now owns 42,164 shares of the company’s stock valued at $930,000 after purchasing an additional 415 shares during the last quarter. QRG Capital Management Inc. raised its stake in Resideo Technologies by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 10,565 shares of the company’s stock worth $233,000 after acquiring an additional 437 shares in the last quarter. Finally, ORG Partners LLC grew its stake in Resideo Technologies by 588.2% during the 3rd quarter. ORG Partners LLC now owns 585 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

About Resideo Technologies

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.