Resideo Technologies (NYSE:REZI) Hits New 1-Year Low - Here's What Happened

Key Points

• Resideo Technologies fell to a new 52-week low of $20.10, well below its 50-day and 200-day moving averages of $30.84 and $33.65, respectively.
• Analyst sentiment remains mixed: ratings range from “strong sell” to “buy,” resulting in a consensus “hold” rating and a $41 average price target.
• The company recently beat quarterly expectations, reporting $0.83 in EPS versus $0.47 expected and $1.98 billion in revenue, while insiders bought more than 41,000 shares worth approximately $848,000 over the past 90 days.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $20.10 and last traded at $20.10, with a volume of 930796 shares changing hands. The stock had previously closed at $21.54.

Analyst Ratings Changes

REZI has been the subject of a number of recent research reports. Zacks Research lowered shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 9th. Morgan Stanley cut their price objective on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. Weiss Ratings raised shares of Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, August 14th. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They set a "buy" rating and a $55.00 target price for the company. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.00.

Resideo Technologies Stock Performance

The firm's 50 day moving average is $30.84 and its 200-day moving average is $33.65. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 8.85 and a beta of 1.63. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.47 by $0.36. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. During the same quarter last year, the business earned $0.66 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. Analysts forecast that Resideo Technologies, Inc. will post 2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Resideo Technologies news, SVP Joshua Peter Foster purchased 15,317 shares of the stock in a transaction on Friday, August 14th. The shares were bought at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the transaction, the senior vice president owned 183,509 shares of the company's stock, valued at $3,776,615.22. This trade represents a 9.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas A. Surran acquired 15,000 shares of the company's stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the acquisition, the chief executive officer owned 338,573 shares of the company's stock, valued at $6,927,203.58. This trade represents a 4.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 41,245 shares of company stock valued at $848,115. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Resideo Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in shares of Resideo Technologies by 10.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,126 shares of the company's stock valued at $111,000 after purchasing an additional 306 shares during the period. Vise Technologies Inc. lifted its stake in Resideo Technologies by 2.4% in the 4th quarter. Vise Technologies Inc. now owns 13,670 shares of the company's stock valued at $480,000 after buying an additional 315 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Resideo Technologies by 36.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,268 shares of the company's stock worth $45,000 after buying an additional 342 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Resideo Technologies by 6.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,929 shares of the company's stock worth $208,000 after buying an additional 347 shares during the last quarter. Finally, Sage Rhino Capital LLC increased its stake in Resideo Technologies by 6.6% during the 4th quarter. Sage Rhino Capital LLC now owns 6,589 shares of the company's stock worth $231,000 after buying an additional 409 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

About Resideo Technologies

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.

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