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

Resideo Technologies, Inc. (NYSE:REZI) shares reached a new 52-week low on Wednesday. The stock 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.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Seaport Research Partners assumed coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They issued a “buy” rating and a $55.00 target price for the company. Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Evercore initiated coverage on shares of Resideo Technologies in a report on Monday. They issued an “outperform” rating and a $30.00 price target for the company. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Finally, Zacks Research downgraded Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Three investment 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.00.

Resideo Technologies Price Performance

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 stock has a market capitalization of $2.74 billion, a P/E ratio of 7.97 and a beta of 1.60. The company has a fifty day simple moving average of $23.08 and a two-hundred day simple moving average of $30.15.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts expect that Resideo Technologies, Inc. will post 2.5 EPS for the current fiscal year.

Insider Activity

In related news, SVP Amit Mehta purchased 10,928 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were bought at an average price of $20.68 per share, with a total value of $225,991.04. Following the purchase, the senior vice president directly owned 57,362 shares in the company, valued at $1,186,246.16. This trade represents a 23.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas Surran purchased 15,000 shares of Resideo Technologies stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the transaction, the chief executive officer directly owned 338,573 shares in the company, valued at $6,927,203.58. The trade was a 4.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 41,245 shares of company stock valued at $848,115 in the last 90 days. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Resideo Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd grew its position in shares of Resideo Technologies by 136.5% during the 2nd quarter. WINTON GROUP Ltd now owns 17,500 shares of the company’s stock worth $544,000 after buying an additional 10,100 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Resideo Technologies in the 2nd quarter valued at about $132,000. IFP Advisors Inc raised its position in shares of Resideo Technologies by 33.1% in the 2nd quarter. IFP Advisors Inc now owns 4,670 shares of the company’s stock valued at $145,000 after acquiring an additional 1,162 shares during the period. Squarepoint Ops LLC raised its position in shares of Resideo Technologies by 85.8% in the 2nd quarter. Squarepoint Ops LLC now owns 166,835 shares of the company’s stock valued at $5,189,000 after acquiring an additional 77,065 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Resideo Technologies by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 37,560 shares of the company’s stock valued at $1,168,000 after acquiring an additional 567 shares during the period. Institutional investors own 91.71% of the company’s stock.

Resideo Technologies Company Profile

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.