Resideo Technologies (NYSE:REZI) Sets New 52-Week Low – Time to Sell?

Resideo Technologies, Inc. (NYSE:REZI)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $18.96 and last traded at $19.9150, with a volume of 2315993 shares. The stock had previously closed at $19.28.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on REZI. Morgan Stanley cut their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Zacks Research downgraded shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Seaport Research Partners began coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 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 investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Resideo Technologies Stock Performance

The company has a market cap of $3.04 billion, a P/E ratio of 8.86 and a beta of 1.63. The business’s 50 day simple moving average is $29.45 and its 200 day simple moving average is $32.99. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41.

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, topping analysts’ consensus estimates of $0.47 by $0.36. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. Sell-side analysts predict that Resideo Technologies, Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, CEO Thomas A. Surran bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the transaction, the chief executive officer owned 338,573 shares of the company’s stock, valued at $6,927,203.58. This trade represents a 4.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joshua Peter Foster bought 15,317 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $20.58 per share, with a total value of $315,223.86. Following the transaction, the senior vice president directly owned 183,509 shares of the company’s stock, valued at $3,776,615.22. This represents a 9.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 41,245 shares of company stock valued at $848,115 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Danske Bank A S lifted its holdings in shares of Resideo Technologies by 600.0% in the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock worth $25,000 after buying an additional 600 shares in the last quarter. Larson Financial Group LLC grew its stake in Resideo Technologies by 283.8% during the third quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock valued at $25,000 after acquiring an additional 420 shares in the last quarter. Allworth Financial LP purchased a new position in Resideo Technologies during the second quarter valued at $28,000. McMillan Office Inc. bought a new stake in Resideo Technologies in the 4th quarter valued at $33,000. Finally, Kestra Advisory Services LLC bought a new stake in Resideo Technologies in the 4th quarter valued at $34,000. 91.71% of the stock is owned by hedge funds and other 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.