Resideo Technologies, Inc. (NYSE:REZI – Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $16.33 and last traded at $16.5730, with a volume of 2,278,536 shares trading hands. The stock had previously closed at $16.63.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Evercore assumed coverage on shares of Resideo Technologies in a research note on Monday, September 28th. They issued an “outperform” rating and a $30.00 price target on the stock. 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 assumed coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price objective for the company. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Three 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.00.
Check Out Our Latest Stock Analysis on REZI
Resideo Technologies Stock Performance
Resideo Technologies (NYSE:REZI – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.36. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. On average, research analysts forecast that Resideo Technologies, Inc. will post 2.16 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, SVP Joshua Foster acquired 15,317 shares of Resideo Technologies stock in a transaction on Friday, August 14th. The stock was bought at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the purchase, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. This represents a 9.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Amit Mehta acquired 10,928 shares of Resideo Technologies stock in a transaction on Monday, August 17th. The stock was purchased at an average price of $20.68 per share, with a total value of $225,991.04. Following the purchase, the senior vice president owned 57,362 shares of the company’s stock, valued at $1,186,246.16. The trade was a 23.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 41,245 shares of company stock valued at $848,115 over the last quarter. Company insiders own 1.60% of the company’s stock.
Hedge Funds Weigh In On Resideo Technologies
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Resideo Technologies during the 2nd quarter worth $673,214,000. Pzena Investment Management LLC purchased a new position in shares of Resideo Technologies in the 2nd quarter valued at about $52,458,000. Bank of America Corp DE acquired a new stake in shares of Resideo Technologies in the second quarter valued at about $32,325,000. Bank of New York Mellon Corp acquired a new stake in shares of Resideo Technologies in the second quarter valued at about $28,117,000. Finally, J. Goldman & Co LP acquired a new stake in shares of Resideo Technologies in the second quarter valued at about $17,983,000. 91.71% of the stock is owned by institutional investors and hedge funds.
About Resideo Technologies
Resideo Technologies, Inc is a global provider of products and services for residential and commercial comfort, security, safety and energy management. The company develops and distributes connected home technologies, including thermostats, indoor air-quality products, water-leak detection systems, security controls, sensors and related accessories.
Resideo also operates ADI Global Distribution, a distributor of security, automation and low-voltage products serving professional installers and integrators.
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