Resideo Technologies Inc. (NYSE: REZI) stock fell -2.07% on Wednesday to $16.52 against a previous-day closing price of $16.87. With 0.58 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.7 million shares. During the session, the Security & Protection Services company that operates in wider Industrials sector, reached to the highest price of $16.78 whereas the lowest price it dropped to was $16.36. The 52-week range on REZI shows that it touched its highest point at $24.77 and its lowest point at $14.95 during that stretch. It currently has a 1-year price target of $22.67. Beta for the stock currently stands at 1.94.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of REZI was down-trending over the past week, with a drop of -3.62%, but this was down by -4.12% over a month. Three-month performance dropped to -11.33% while six-month performance rose 1.98%. The stock lost -27.19% in the past year, while it has gained 0.43% so far this year. A look at the trailing 12-month EPS for REZI yields 1.70 with Next year EPS estimates of 2.29. For the next quarter, that number is 0.52. This implies an EPS growth rate of 16.50% for this year and 18.04% for next year.
Float and Shares Shorts:
At present, 147.00 million REZI shares are outstanding with a float of 143.99 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.1 million, which was 1.43% higher than short shares on Mar 30, 2023. In addition to Mr. Jay L. Geldmacher as the firm’s CEO, Pres & Director, Mr. Anthony L. Trunzo serves as its Exec. VP & CFO.
Through their ownership of 93.67% of REZI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 85.90% of REZI, in contrast to 58.48% held by mutual funds. Shares owned by individuals account for 34.83%. As the largest shareholder in REZI with 14.93% of the stake, BlackRock Fund Advisors holds 21,891,266 shares worth 21,891,266. A second-largest stockholder of REZI, The Vanguard Group, Inc., holds 15,908,074 shares, controlling over 10.85% of the firm’s shares. Ariel Investments LLC is the third largest shareholder in REZI, holding 14,092,681 shares or 9.61% stake. With a 7.23% stake in REZI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 10,594,136 shares are owned by the mutual fund manager. The Undiscovered Managers Behavioral, which owns about 3.73% of REZI stock, is the second-largest Mutual Fund holder. It holds 5,469,508 shares valued at 97.36 million. Ariel Fund holds 3.16% of the stake in REZI, owning 4,631,494 shares worth 82.44 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, REZI reported revenue of $1.69B and operating income of $186.00M. The EBITDA in the recently reported quarter was $170.00M and diluted EPS was $0.63.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for REZI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With REZI analysts setting a high price target of $27.00 and a low target of $20.00, the average target price over the next 12 months is $22.50. Based on these targets, REZI could surge 63.44% to reach the target high and rise by 21.07% to reach the target low. Reaching the average price target will result in a growth of 36.2% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded REZI stock several times over the past three months with 3 Buys and 3 Sells. In these transactions, 11,118 shares were bought while 90,335 shares were sold. The number of buy transactions has increased to 36 while that of sell transactions has risen to 33 over the past year. The total number of shares bought during that period was 803,754 while 418,192 shares were sold.