Resideo Technologies (NYSE:REZI) Hits New 52-Week Low – Should You Sell?

by · The Markets Daily

Shares of Resideo Technologies, Inc. (NYSE:REZI – Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $16.33 and last traded at $16.5730, with a volume of 2,278,536 shares changing hands. The stock had previously closed at $16.63.

Analyst Upgrades and Downgrades

REZI has been the topic of several research analyst reports. Morgan Stanley decreased their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. JPMorgan Chase & Co. began coverage on Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 price target on the stock. Zacks Research downgraded Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Finally, Evercore started coverage on Resideo Technologies in a report on Monday, September 28th. They set an “outperform” rating and a $30.00 price objective for the company. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Resideo Technologies currently has a consensus rating of “Hold” and an average target price of $35.00.

Get Our Latest Research Report on REZI

Resideo Technologies Stock Down 0.3%

The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The firm has a 50 day moving average price of $19.80 and a 200-day moving average price of $29.00. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 7.33 and a beta of 1.54.

Resideo Technologies (NYSE:REZI – Get Free Report) last issued its quarterly earnings data 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 analysts’ expectations of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. On average, equities analysts forecast that Resideo Technologies, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other Resideo Technologies news, CEO Thomas Surran purchased 15,000 shares of Resideo Technologies stock in a transaction 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 acquisition, the chief executive officer directly owned 338,573 shares of the company’s stock, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Amit Mehta purchased 10,928 shares of Resideo Technologies stock in a transaction on Monday, August 17th. The stock was acquired at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the acquisition, the senior vice president directly owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This represents a 23.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 41,245 shares of company stock worth $848,115. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Resideo Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP purchased a new stake in shares of Resideo Technologies during the second quarter worth about $28,000. State of Wyoming acquired a new position in shares of Resideo Technologies in the second quarter valued at approximately $91,000. GAMMA Investing LLC raised its position in shares of Resideo Technologies by 15.2% in the third quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock valued at $123,000 after buying an additional 896 shares during the last quarter. Nykredit A S acquired a new position in shares of Resideo Technologies in the second quarter valued at approximately $132,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Resideo Technologies during the second quarter valued at approximately $132,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Company Profile

(Get Free Report)

Resideo Technologies, Inc is a global provider of products and services for residential and commercial comfort, security, safety and energy management. The company develops and distributes connected home technologies, including thermostats, indoor air-quality products, water-leak detection systems, security controls, sensors and related accessories.

Resideo also operates ADI Global Distribution, a distributor of security, automation and low-voltage products serving professional installers and integrators.

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