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

Resideo Technologies, Inc. (NYSE:REZI) hit a new 52-week low during trading on Tuesday . The stock traded as low as $18.96 and last traded at $19.2820, with a volume of 110270 shares traded. The stock had previously closed at $19.36.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on REZI shares. Zacks Research downgraded shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price target for the company. Morgan Stanley decreased their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Resideo Technologies in a report on Friday, August 7th. They set a “neutral” rating and a $30.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.00.

Resideo Technologies Stock Down 0.5%

The company has a market cap of $2.92 billion, a PE ratio of 8.53 and a beta of 1.63. The stock’s 50 day moving average price is $28.97 and its 200-day moving average price is $32.76. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22.

Resideo Technologies (NYSE:REZI) last issued its 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. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, analysts predict that Resideo Technologies, Inc. will post 2.5 earnings per share for the current year.

Insider Activity

In related news, SVP Joshua Peter Foster bought 15,317 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $20.58 per share, with a total value of $315,223.86. Following the purchase, the senior vice president owned 183,509 shares in the company, valued at approximately $3,776,615.22. The trade was a 9.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Amit Ashvin Mehta acquired 10,928 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were bought at an average cost 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 approximately $1,186,246.16. This trade represents a 23.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 41,245 shares of company stock valued at $848,115. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Resideo Technologies

Several large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its stake in shares of Resideo Technologies by 10.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,126 shares of the company’s stock valued at $111,000 after buying an additional 306 shares during the period. Vise Technologies Inc. grew its holdings in shares of Resideo Technologies by 2.4% during the 4th quarter. Vise Technologies Inc. now owns 13,670 shares of the company’s stock worth $480,000 after acquiring an additional 315 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Resideo Technologies by 36.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,268 shares of the company’s stock worth $45,000 after acquiring an additional 342 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Resideo Technologies by 6.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,929 shares of the company’s stock worth $208,000 after acquiring an additional 347 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Resideo Technologies by 283.8% in the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after acquiring an additional 420 shares in the last quarter. 91.71% of the stock is owned by institutional investors.

About Resideo Technologies

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.