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

Resideo Technologies, Inc. (NYSE:REZI) hit a new 52-week low on Thursday . The stock traded as low as $23.31 and last traded at $25.74, with a volume of 3570307 shares traded. The stock had previously closed at $24.24.

Analysts Set New Price Targets

REZI has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Resideo Technologies in a report on Friday, July 17th. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a report on Thursday. Morgan Stanley cut their price objective on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Resideo Technologies has an average rating of “Hold” and an average target price of $41.00.

Resideo Technologies Stock Up 0.3%

The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 9.08 and a beta of 1.63. The stock’s 50 day moving average is $31.39 and its 200 day moving average is $33.92. The company has a quick ratio of 1.19, a current ratio of 2.22 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI) last released its 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 firm 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 firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. Analysts forecast that Resideo Technologies, Inc. will post 2.81 EPS for the current year.

Institutional Trading of Resideo Technologies

Several institutional investors have recently modified their holdings of REZI. Danske Bank A S grew its holdings in Resideo Technologies by 600.0% during the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock worth $25,000 after acquiring an additional 600 shares during the period. Larson Financial Group LLC lifted its holdings in Resideo Technologies by 283.8% in the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock valued at $25,000 after acquiring an additional 420 shares during the last quarter. Allworth Financial LP bought a new position in shares of Resideo Technologies during the 2nd quarter valued at about $28,000. McMillan Office Inc. bought a new position in shares of Resideo Technologies during the 4th quarter valued at about $33,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Resideo Technologies in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

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.