Resideo Technologies Inc (NYSE:REZI) was the recipient of a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 6,090,000 shares, a decline of 8.8% from the November 14th total of 6,680,000 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average trading volume of 2,080,000 shares, the short-interest ratio is presently 2.9 days.

A number of research analysts recently issued reports on REZI shares. Oppenheimer lowered Resideo Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 23rd. Zacks Investment Research lowered Resideo Technologies from a “hold” rating to a “sell” rating in a report on Saturday, October 26th. ValuEngine raised Resideo Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Bank of America lowered Resideo Technologies from a “buy” rating to a “neutral” rating in a report on Wednesday, October 23rd. Finally, Imperial Capital dropped their price target on Resideo Technologies from $25.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $20.00.

In other news, Director Sharon L. Wienbar bought 4,900 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $10.32 per share, with a total value of $50,568.00. Following the completion of the acquisition, the director now directly owns 4,900 shares in the company, valued at $50,568. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph Douglas Ragan III sold 11,109 shares of Resideo Technologies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $9.87, for a total value of $109,645.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 33,751 shares of company stock worth $312,256. 0.09% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Resideo Technologies by 6.3% in the 2nd quarter. BlackRock Inc. now owns 10,790,775 shares of the company’s stock worth $236,534,000 after purchasing an additional 639,881 shares in the last quarter. River Road Asset Management LLC boosted its position in Resideo Technologies by 32.0% during the 3rd quarter. River Road Asset Management LLC now owns 1,572,490 shares of the company’s stock worth $22,565,000 after acquiring an additional 381,268 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Resideo Technologies by 3.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,568,130 shares of the company’s stock worth $34,373,000 after acquiring an additional 46,423 shares during the period. Bank of New York Mellon Corp boosted its position in Resideo Technologies by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,357,331 shares of the company’s stock worth $29,753,000 after acquiring an additional 75,290 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in Resideo Technologies by 27.4% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,165,102 shares of the company’s stock worth $16,719,000 after acquiring an additional 250,537 shares during the period. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

REZI traded up $0.24 during trading on Friday, reaching $11.85. The company had a trading volume of 2,452,337 shares, compared to its average volume of 2,613,365. The firm’s 50-day simple moving average is $9.98 and its 200 day simple moving average is $15.45. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 4.80, a PEG ratio of 1.98 and a beta of 1.27. Resideo Technologies has a 12-month low of $8.60 and a 12-month high of $26.40. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.72 and a current ratio of 1.19.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Resideo Technologies had a return on equity of 7.63% and a net margin of 1.23%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.53 EPS. On average, sell-side analysts expect that Resideo Technologies will post 0.83 EPS for the current year.

Resideo Technologies Company Profile

Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.

See Also: Cost of Goods Sold (COGS)

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