The Vanguard Group, Inc. recently announced the acquisition of new stake in Resideo Technologies Inc. (NYSE:REZI). The institutional investor has increased its shareholding in the Industrials company by 11.12% to 12.72 million shares with purchase of 1.27 million shares. This fresh investment now brings its stake to 10.33% valued currently at $149.05 million. In addition, Praesidium Investment Management. raised its holdings by 1.11 million to 8.89 million shares. And Freshford Capital Management LLC has lifted its position by 54.59% or 2.98 million shares – to 8.44 million shares.
With over 0.76 million Resideo Technologies Inc. (REZI) shares trading Tuesday and a closing price of $13.54 on the day, the dollar volume was approximately $10.28 million. The shares have shown a positive weekly performance of 14.60% and its price on 07/21/20 lost nearly -0.29%. Currently, there are 122.96M common shares owned by the public and among those 122.50M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for REZI have a consensus price objective of $8.83. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $4.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Resideo Technologies Inc. stock is 2.50 for the next 12 months. The average price target is -53.34% below its last price level and a downside to the estimated low will see the stock lose -200.89% over that period. But an upside of -12.83% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.
Insiders at the company have transacted a total of 111 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 80 of these insider trades were purchases, accounting for 593,832 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 85,096 shares.
The top 3 mutual fund holders in Resideo Technologies Inc. are iShares Core S&P Small Cap ETF, Undiscovered Managers Behavioral, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 7.58 million shares of the company’s stock, all valued at over $88.83 million. Undiscovered Managers Behavioral sold 12800.0 shares to see its total holdings shrink to 3.56 million shares valued at over $41.71 million and representing 2.89% of the shares outstanding. Vanguard Total Stock Market Index bought 5360.0 shares to bring its total holdings to over 3.51 million shares at a value of $41.15 million. Vanguard Total Stock Market Index now owns shares totaling to 2.85% of the shares outstanding.
Shares of Resideo Technologies Inc. (NYSE: REZI) opened at $13.64, up $0.06 from a prior closing price of $13.58. However, the script later closed the day at $13.54, down -0.29%. The company’s stock has a 5-day price change of 14.60% and 232.84% over the past three months. REZI shares are trading 13.83% year to date (YTD), with the 12-month market performance down to -28.26% lower. It has a 12-month low price of $3.72 and touched a high of $20.05 over the same period. Currently, 0.76 million shares have been traded, compared to an average intraday trading volume of 2.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.91%, 41.41%, and 44.00% respectively.
Institutional ownership of Resideo Technologies Inc. (NYSE: REZI) shares accounts for 96.30% of the company’s 122.96M shares outstanding. Mutual fund holders own 43.04%, while other institutional holders and individual stakeholders account for 52.93% and 100.40% respectively.
It has a market capitalization of $1.65B. The earnings-per-share (ttm) stands at -$0.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.21% over the week and 6.39% over the month.
Analysts forecast that Resideo Technologies Inc. (REZI) will achieve an EPS of $0.04 for the current quarter, $0.04 for the next quarter and $1.01 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of $0.18. Comparatively, EPS for the current quarter was $0.19 a year ago. Earnings per share for the fiscal year are expected to decrease by -57.80%, and 93.65% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Resideo Technologies Inc. (REZI) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the REZI, a number of firms have released research notes about the stock. Imperial Capital stated their In-line rating for the stock in a research note on April 28, 2020, with the firm’s price target at $12.50-$6. ROTH Capital coverage for the Resideo Technologies Inc. (REZI) stock in a research note released on April 03, 2020 offered a Neutral rating with a price target of $4. Imperial Capital was of a view on February 28, 2020 that the stock is Outperform, while BofA/Merrill gave the stock Buy rating on January 07, 2020, issuing a price target of. Imperial Capital on their part issued In-line rating on November 08, 2019.