Key Points
- Insider buying: Resideo SVP Amit Ashvin Mehta purchased 10,928 shares at an average price of $20.68, investing $225,991 and increasing his position by 23.53% to 57,362 shares.
- Strong quarterly results: Resideo reported quarterly EPS of $0.83, exceeding the $0.47 consensus estimate, while revenue reached $1.98 billion and rose 2% year over year.
- Mixed market outlook: Institutional investors own 91.71% of the stock, but analyst opinions remain divided, resulting in a consensus “Hold” rating and an average price target of $41.
Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) SVP Amit Ashvin 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Resideo Technologies Trading Up 2.0%
REZI opened at $21.05 on Wednesday. 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 company's 50 day simple moving average is $31.01 and its two-hundred day simple moving average is $33.74. Resideo Technologies, Inc. has a 1-year low of $20.10 and a 1-year high of $45.29. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 9.31 and a beta of 1.63.
Resideo Technologies (NYSE:REZI - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 17.79% and a net margin of 5.37%.The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. Analysts expect that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Resideo Technologies in the 2nd quarter valued at $673,214,000. Franklin Resources Inc. increased its position in shares of Resideo Technologies by 1,325.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company's stock worth $81,553,000 after purchasing an additional 1,756,131 shares during the last quarter. Clayton Dubilier & Rice LLC raised its holdings in Resideo Technologies by 12.7% in the 4th quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company's stock valued at $525,962,000 after buying an additional 1,689,758 shares during the period. Pzena Investment Management LLC purchased a new stake in Resideo Technologies in the 2nd quarter valued at about $52,458,000. Finally, Sachem Head Capital Management LP purchased a new stake in Resideo Technologies in the 4th quarter valued at about $57,070,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Zacks Research cut Resideo Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. Morgan Stanley reduced their price target on Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Weiss Ratings raised shares of Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday. Oppenheimer reissued an "outperform" rating on shares of Resideo Technologies in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They set a "neutral" rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Resideo Technologies presently has an average rating of "Hold" and a consensus target price of $41.00.
Get Our Latest Analysis on Resideo Technologies
Resideo Technologies Company Profile
(
Get Free Report)
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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