Resideo Technologies Inc (NYSE: REZI) stock fell -1.67% on Monday to $16.49 against a previous-day closing price of $16.77. With 0.91 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.66 million shares. During the session, the Security & Protection Services company that operates in wider Industrials sector, reached to the highest price of $16.75 whereas the lowest price it dropped to was $16.42. The 52-week range on REZI shows that it touched its highest point at $20.16 and its lowest point at $14.19 during that stretch. It currently has a 1-year price target of $18.00. Beta for the stock currently stands at 1.95.
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 up-trending over the past week, with a rise of 4.96%, but this was up by 12.79% over a month. Three-month performance surged to 2.30% while six-month performance fell -3.45%. The stock gained 1.48% in the past year, while it has gained 0.24% so far this year. A look at the trailing 12-month EPS for REZI yields 1.12 with Next year EPS estimates of 1.60. For the next quarter, that number is 0.47. This implies an EPS growth rate of -29.97% for this year and 20.58% for next year.
Float and Shares Shorts:
At present, 146.22 million REZI shares are outstanding with a float of 143.57 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.58 million, which was 1.08% higher than short shares on Sep 28, 2023. In addition to Mr. Jay L. Geldmacher as the firm’s CEO, President & Director, Mr. Anthony L. Trunzo serves as its Executive VP & CFO.
Institutional Ownership:
Through their ownership of 93.34% of REZI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 85.37% of REZI, in contrast to 56.53% held by mutual funds. Shares owned by individuals account for 34.69%. As the largest shareholder in REZI with 14.26% of the stake, BlackRock Fund Advisors holds 21,061,719 shares worth 21,061,719. A second-largest stockholder of REZI, The Vanguard Group, Inc., holds 15,746,141 shares, controlling over 10.66% of the firm’s shares. Ariel Investments LLC is the third largest shareholder in REZI, holding 13,760,106 shares or 9.32% stake. With a 6.73% stake in REZI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 9,933,682 shares are owned by the mutual fund manager. The Undiscovered Managers Behavioral, which owns about 4.57% of REZI stock, is the second-largest Mutual Fund holder. It holds 6,747,274 shares valued at 97.7 million. Ariel Fund holds 3.16% of the stake in REZI, owning 4,670,949 shares worth 67.64 million.
Analysts Ratings:
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 $20.00 and a low target of $16.00, the average target price over the next 12 months is $18.00. Based on these targets, REZI could surge 21.29% to reach the target high and fall by -2.97% to reach the target low. Reaching the average price target will result in a growth of 9.16% from current levels.
Summary of Insider Activity:
Insiders traded REZI stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 4,079 shares were bought while 10,933 shares were sold. The number of buy transactions has increased to 32 while that of sell transactions has risen to 33 over the past year. The total number of shares bought during that period was 962,116 while 470,500 shares were sold.
