Resideo Technologies (NYSE:REZI) Reaches New 12-Month Low – Here’s Why

Resideo Technologies, Inc. (NYSE:REZI) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $18.14 and last traded at $18.3250, with a volume of 392930 shares trading hands. The stock had previously closed at $18.68.

Analyst Ratings Changes

Several analysts recently commented on REZI shares. Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 9th. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Seaport Research Partners assumed coverage on Resideo Technologies in a report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price target for the company. JPMorgan Chase & Co. started coverage on Resideo Technologies in a research report on Friday, August 7th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Resideo Technologies presently has an average rating of “Hold” and an average target price of $37.50.

Resideo Technologies Trading Down 1.6%

The company’s 50-day moving average price is $24.49 and its 200-day moving average price is $30.62. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 8.12 and a beta of 1.60. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI) last announced its 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 business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations 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 was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Equities analysts expect that Resideo Technologies, Inc. will post 2.5 EPS for the current fiscal year.

Insider Transactions at Resideo Technologies

In other Resideo Technologies news, CEO Thomas A. Surran purchased 15,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost 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. The trade was a 4.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Amit Mehta acquired 10,928 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired 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 in the company, valued at $1,186,246.16. This represents a 23.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 41,245 shares of company stock valued at $848,115 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Resideo Technologies in the second quarter valued at approximately $673,214,000. Dimensional Fund Advisors LP grew its holdings in Resideo Technologies by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock valued at $262,505,000 after buying an additional 64,613 shares in the last quarter. Franklin Resources Inc. increased 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 during the last quarter. Locust Wood Capital Advisers LLC raised its holdings in shares of Resideo Technologies by 124.6% during the 4th quarter. Locust Wood Capital Advisers LLC now owns 2,649,691 shares of the company’s stock worth $93,057,000 after acquiring an additional 1,470,077 shares during the period. Finally, Swedbank AB boosted its position in shares of Resideo Technologies by 13.6% during the 1st quarter. Swedbank AB now owns 2,665,123 shares of the company’s stock valued at $89,841,000 after acquiring an additional 318,204 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Company Profile

Resideo Technologies, Inc is a technology and manufacturing company that provides products and solutions for residential and commercial buildings. Its offerings are designed to improve security, comfort, energy efficiency, water management and connectivity in homes and other properties.

Through its Products and Solutions segment, Resideo supplies thermostats, heating and cooling controls, indoor air-quality products, water-management systems, security and fire products, video solutions, sensors and connected-home technologies.