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

Shares of Resideo Technologies, Inc. (NYSE:REZI) hit a new 52-week low on Wednesday . The stock traded as low as $18.82 and last traded at $18.8890, with a volume of 2137235 shares traded. The stock had previously closed at $19.64.

Analyst Ratings Changes

REZI has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Seaport Research Partners began coverage on shares of Resideo Technologies in a report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Finally, Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.00.

Resideo Technologies Trading Down 3.8%

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 firm has a market cap of $2.87 billion, a price-to-earnings ratio of 8.36 and a beta of 1.60. The business has a fifty day simple moving average of $27.58 and a 200-day simple moving average of $32.06.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.36. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. As a group, equities analysts forecast 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 Surran acquired 15,000 shares of Resideo Technologies stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is available at the SEC website. Also, SVP Joshua Foster acquired 15,317 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the senior vice president directly 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 disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 41,245 shares of company stock worth $848,115. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Resideo Technologies in the 2nd quarter valued at $673,214,000. Clayton Dubilier & Rice LLC boosted its holdings in Resideo Technologies by 12.7% during the 4th quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock worth $525,962,000 after acquiring an additional 1,689,758 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Resideo Technologies by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock worth $262,505,000 after acquiring an additional 64,613 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Resideo Technologies by 3,036.4% during the 2nd quarter. California State Teachers Retirement System now owns 4,879,839 shares of the company’s stock worth $156,908,000 after acquiring an additional 4,724,252 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Resideo Technologies by 51.4% in the 4th quarter. Franklin Resources Inc. now owns 2,860,308 shares of the company’s stock worth $100,454,000 after acquiring an additional 971,643 shares in the last quarter. 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.