Investors Buy High Volume of Resideo Technologies Call Options (NYSE:REZI)

Resideo Technologies, Inc. (NYSE:REZI) was the recipient of unusually large options trading on Monday. Stock investors bought 5,506 call options on the stock. This represents an increase of 1,741% compared to the typical volume of 299 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 price objective for the company. Evercore started coverage on shares of Resideo Technologies in a research note on Monday. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Zacks Research cut Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Resideo Technologies has a consensus rating of “Hold” and a consensus target price of $35.00.

Insider Buying and Selling

In other news, SVP Amit Mehta acquired 10,928 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were bought at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the acquisition, the senior vice president owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This trade represents a 23.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Joshua Foster bought 15,317 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the purchase, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. The trade was a 9.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 41,245 shares of company stock worth $848,115. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Resideo Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Resideo Technologies in the second quarter valued at approximately $673,214,000. Pzena Investment Management LLC acquired a new stake in Resideo Technologies during the second quarter worth $52,458,000. Sachem Head Capital Management LP acquired a new stake in Resideo Technologies during the fourth quarter worth $57,070,000. Norges Bank purchased a new stake in Resideo Technologies in the fourth quarter valued at $56,059,000. Finally, Locust Wood Capital Advisers LLC raised its position in Resideo Technologies by 124.6% in the fourth quarter. Locust Wood Capital Advisers LLC now owns 2,649,691 shares of the company’s stock valued at $93,057,000 after purchasing an additional 1,470,077 shares during the period. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Stock Down 0.4%

Shares of REZI opened at $18.16 on Wednesday. Resideo Technologies has a 52-week low of $17.96 and a 52-week high of $45.29. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $23.08 and a two-hundred day simple moving average of $30.15. The company has a market capitalization of $2.76 billion, a PE ratio of 8.03 and a beta of 1.60.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts forecast that Resideo Technologies will post 2.5 EPS for the current year.

About Resideo Technologies

Resideo Technologies, Inc is a technology and manufacturing company that provides products and solutions for residential and commercial buildings. Its offerings are designed to improve security, comfort, energy efficiency, water management and connectivity in homes and other properties.

Through its Products and Solutions segment, Resideo supplies thermostats, heating and cooling controls, indoor air-quality products, water-management systems, security and fire products, video solutions, sensors and connected-home technologies.