Resideo Technologies (NYSE:REZI) Shares Cross Above 50 Day Moving Average - What's Next?

Key Points

• Resideo Technologies shares rose 2.8%, briefly reaching $18.99 and closing at $18.82, moving above their 50-day moving average of $18.45. The stock remains below its 200-day average of $30.05.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $31.75.
• The company reported quarterly EPS of $0.83, beating estimates by $0.36, while revenue reached $1.98 billion. Insiders also purchased 41,245 shares worth approximately $848,115 over the past 90 days.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $18.45 and traded as high as $18.99. Resideo Technologies shares last traded at $18.82, with a volume of 1,282,154 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on REZI shares. Evercore began coverage on shares of Resideo Technologies in a research report on Monday, September 28th. They set an "outperform" rating and a $30.00 price objective for the company. Citigroup began coverage on shares of Resideo Technologies in a report on Monday, October 19th. They issued a "market outperform" rating on the stock. JPMorgan Chase & Co. assumed coverage on Resideo Technologies in a research note on Friday, August 7th. They issued a "neutral" rating and a $30.00 target price for the company. Zacks Research upgraded Resideo Technologies from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 13th. Finally, Morgan Stanley lowered their target price on Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, July 13th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.75.

Resideo Technologies Trading Up 2.8%

The company has a market cap of $2.86 billion, a price-to-earnings ratio of 8.33 and a beta of 1.54. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41. The firm's fifty day moving average price is $18.45 and its 200-day moving average price is $30.05.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings data 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 business 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 company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, equities analysts expect that Resideo Technologies, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, SVP Amit Mehta purchased 10,928 shares of the business's stock in a transaction dated Monday, August 17th. The shares were bought at an average price of $20.68 per share, with a total value of $225,991.04. Following the completion of the acquisition, the senior vice president owned 57,362 shares in the company, valued at approximately $1,186,246.16. This represents a 23.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas A. Surran purchased 15,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the acquisition, the chief executive officer owned 338,573 shares of the company's stock, valued at approximately $6,927,203.58. The trade was a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 41,245 shares of company stock valued at $848,115 in the last ninety days. Company insiders own 1.60% of the company's stock.

Institutional Trading of Resideo Technologies

Several large investors have recently added to or reduced their stakes in REZI. Choreo LLC lifted its holdings in Resideo Technologies by 58.4% in the third quarter. Choreo LLC now owns 20,722 shares of the company's stock worth $376,000 after purchasing an additional 7,644 shares during the period. Sterling Capital Management LLC increased its stake in Resideo Technologies by 27.0% during the 3rd quarter. Sterling Capital Management LLC now owns 3,015 shares of the company's stock valued at $55,000 after buying an additional 641 shares during the period. Crossmark Global Holdings Inc. increased its stake in Resideo Technologies by 24.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 19,263 shares of the company's stock valued at $350,000 after buying an additional 3,799 shares during the period. SummerHaven Investment Management LLC bought a new stake in shares of Resideo Technologies during the 3rd quarter worth about $809,000. Finally, GAMMA Investing LLC raised its position in shares of Resideo Technologies by 15.2% during the 3rd quarter. GAMMA Investing LLC now owns 6,799 shares of the company's stock worth $123,000 after buying an additional 896 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Company Profile

Resideo Technologies, Inc NYSE: REZI is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.

Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.

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