JPMorgan Chase & Co. Initiates Coverage on Resideo Technologies (NYSE:REZI)

Key Points

• JPMorgan initiated coverage of Resideo Technologies with a “neutral” rating and a $30 price target, implying 16.7% upside from the prior close.
• Analyst sentiment is mixed: Resideo has an average “hold” rating and a $41 consensus price target, with ratings ranging from buy to sell.
• REZI shares closed at $25.71, near their 12-month low of $25.46. Institutional investors own approximately 91.7% of the company’s stock.

Analysts at JPMorgan Chase & Co. assumed coverage on shares of Resideo Technologies (NYSE:REZI - Get Free Report) in a report released on Friday. The brokerage set a "neutral" rating and a $30.00 price target on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 16.70% from the company's previous close.

REZI has been the topic of a number of other research reports. Zacks Research lowered shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 9th. Morgan Stanley reduced their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, July 13th. Seaport Research Partners started coverage on Resideo Technologies in a research note on Wednesday, July 1st. They set a "buy" rating and a $55.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Resideo Technologies in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $41.00.

Resideo Technologies Stock Performance

REZI traded down $0.36 on Friday, hitting $25.71. 72,471 shares of the company's stock were exchanged, compared to its average volume of 1,414,614. The firm has a market cap of $3.89 billion, a PE ratio of -6.71 and a beta of 1.63. The stock has a fifty day moving average of $32.25 and a two-hundred day moving average of $34.46. The company has a current ratio of 2.07, a quick ratio of 1.19 and a debt-to-equity ratio of 1.30. Resideo Technologies has a twelve month low of $25.46 and a twelve month high of $45.29.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. Resideo Technologies had a negative net margin of 6.71% and a positive return on equity of 16.70%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted $0.63 EPS. Resideo Technologies's quarterly revenue was up 8.0% compared to the same quarter last year. Resideo Technologies has set its FY 2026 guidance at 3.000-3.200 EPS and its Q2 2026 guidance at 0.710-0.750 EPS. On average, research analysts anticipate that Resideo Technologies will post 2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Resideo Technologies

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in Resideo Technologies by 1,325.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company's stock worth $81,553,000 after buying an additional 1,756,131 shares in the last quarter. Clayton Dubilier & Rice LLC increased its stake in shares of Resideo Technologies by 12.7% in the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company's stock worth $525,962,000 after acquiring an additional 1,689,758 shares during the last quarter. Sachem Head Capital Management LP purchased a new stake in shares of Resideo Technologies during the fourth quarter worth $57,070,000. Norges Bank acquired a new stake in Resideo Technologies during the fourth quarter valued at $56,059,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Resideo Technologies by 365.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,966,157 shares of the company's stock valued at $84,899,000 after purchasing an additional 1,543,952 shares in the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.

Resideo Technologies Company Profile

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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