Resideo Technologies (NYSE:REZI) Sets New 12-Month Low – Time to Sell?

Resideo Technologies, Inc. (NYSE:REZIGet Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $18.82 and last traded at $18.8890, with a volume of 2137235 shares. The stock had previously closed at $19.64.

Wall Street Analyst Weigh In

REZI has been the topic of a number of research reports. Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They set a “neutral” rating and a $30.00 price objective for the company. Seaport Research Partners began coverage on Resideo Technologies in a report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price objective for the company. Morgan Stanley decreased their target price on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.00.

Check Out Our Latest Report on REZI

Resideo Technologies Price Performance

The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.36 and a beta of 1.60. The company’s 50 day moving average is $27.58 and its 200 day moving average is $32.06. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZIGet Free Report) last issued 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. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. 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 company earned $0.66 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Resideo Technologies, Inc. will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Amit Mehta acquired 10,928 shares of the company’s stock in a transaction on Monday, August 17th. The stock was 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 directly owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. The trade was a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joshua Foster purchased 15,317 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was bought 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 of the company’s stock, valued at $3,776,615.22. This represents a 9.11% 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 worth $848,115 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Resideo Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Resideo Technologies by 50.0% during the 1st quarter. Royal Bank of Canada now owns 49,395 shares of the company’s stock worth $873,000 after acquiring an additional 16,467 shares in the last quarter. AQR Capital Management LLC raised its position in Resideo Technologies by 58.9% during the first quarter. AQR Capital Management LLC now owns 122,734 shares of the company’s stock valued at $2,172,000 after purchasing an additional 45,517 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Resideo Technologies by 7.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,161 shares of the company’s stock valued at $2,233,000 after purchasing an additional 9,106 shares in the last quarter. Millennium Management LLC lifted its stake in Resideo Technologies by 1,123.6% during the first quarter. Millennium Management LLC now owns 263,821 shares of the company’s stock worth $4,670,000 after purchasing an additional 242,260 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Resideo Technologies by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company’s stock worth $7,773,000 after purchasing an additional 26,254 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

About Resideo Technologies

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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.

Further Reading

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