Resideo Technologies (NYSE:REZI) Hits New 52-Week Low – What’s Next?

Shares of Resideo Technologies, Inc. (NYSE:REZI) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $17.22 and last traded at $17.5050, with a volume of 4,184,863 shares traded. The stock had previously closed at $18.92.

Analyst Ratings Changes

REZI has been the topic of several recent analyst reports. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 price objective on the stock. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Morgan Stanley cut their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Evercore started coverage on Resideo Technologies in a research report on Monday, September 28th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.00.

Resideo Technologies Stock Performance

The company has a market cap of $2.59 billion, a PE ratio of 7.56 and a beta of 1.54. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The stock’s 50-day simple moving average is $20.38 and its 200 day simple moving average is $29.31.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts anticipate 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 Surran purchased 15,000 shares of Resideo Technologies stock in a transaction on Friday, August 14th. The shares were bought at an average price of $20.46 per share, with a total value of $306,900.00. Following the purchase, the chief executive officer directly owned 338,573 shares in the company, valued at $6,927,203.58. This trade represents a 4.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Amit Mehta bought 10,928 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the completion of the transaction, 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 position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 41,245 shares of company stock valued at $848,115. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in REZI. GAMMA Investing LLC raised its stake in Resideo Technologies by 15.2% during the third quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock valued at $123,000 after buying an additional 896 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Resideo Technologies by 136.5% during the 2nd quarter. WINTON GROUP Ltd now owns 17,500 shares of the company’s stock valued at $544,000 after purchasing an additional 10,100 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Resideo Technologies during the 2nd quarter valued at $132,000. IFP Advisors Inc raised its stake 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 worth $145,000 after buying an additional 1,162 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Resideo Technologies by 85.8% in the second quarter. Squarepoint Ops LLC now owns 166,835 shares of the company’s stock valued at $5,189,000 after buying an additional 77,065 shares during the period. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

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.