Resideo Technologies (NYSE:REZI) Reaches New 1-Year Low – Time to Sell?

Resideo Technologies, Inc. (NYSE:REZI)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $20.10 and last traded at $20.10, with a volume of 930796 shares traded. The stock had previously closed at $21.54.

Wall Street Analyst Weigh In

REZI has been the topic of several research analyst reports. JPMorgan Chase & Co. initiated coverage on Resideo Technologies in a research note on Friday, August 7th. They issued a “neutral” rating and a $30.00 price objective on the stock. Zacks Research downgraded Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Morgan Stanley dropped 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. Finally, Seaport Research Partners started coverage on Resideo Technologies in a report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.00.

Resideo Technologies Stock Performance

The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41. The stock’s 50-day moving average price is $30.39 and its 200-day moving average price is $33.46. The company has a market cap of $3.08 billion, a P/E ratio of 8.99 and a beta of 1.63.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm earned $0.66 earnings per share. Resideo Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts anticipate that Resideo Technologies, Inc. will post 2.81 EPS for the current year.

Insider Transactions at Resideo Technologies

In other Resideo Technologies news, SVP Joshua Peter Foster bought 15,317 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $20.58 per share, with a total value of $315,223.86. Following the completion of the acquisition, the senior vice president owned 183,509 shares of the company’s stock, valued at $3,776,615.22. This trade represents a 9.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Amit Ashvin Mehta purchased 10,928 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average price of $20.68 per share, with a total value of $225,991.04. Following the completion of the transaction, the senior vice president owned 57,362 shares of the company’s stock, valued at $1,186,246.16. This represents a 23.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 41,245 shares of company stock valued at $848,115. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Resideo Technologies

A number of hedge funds have recently added to or reduced their stakes in REZI. Nykredit A S acquired a new position in Resideo Technologies in the 2nd quarter valued at $132,000. Ancora Advisors LLC bought a new stake in shares of Resideo Technologies during the 2nd quarter valued at $13,546,000. Two Sigma Securities LLC acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth $246,000. Equitable Holdings Inc. acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth $663,000. Finally, Corient Private Wealth LP bought a new position in shares of Resideo Technologies in the second quarter worth $823,000. Institutional investors own 91.71% of the company’s stock.

Resideo Technologies Company Profile

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.