Oppenheimer Issues Positive Forecast for Resideo Technologies (NYSE:REZI) Stock Price

Key Points

• Oppenheimer raised its target price for Resideo Technologies (NYSE:REZI) from $35.00 to $48.00, indicating a potential upside of 12.51% from the stock's previous close and maintaining an "outperform" rating.
• Other brokerages have also upgraded their ratings on Resideo, with Morgan Stanley moving from "equal weight" to "overweight" and raising its target price to $35.00.
• In significant insider activity, Director Andrew C. Teich purchased 29,460 shares at an average price of $34.01, increasing his total ownership in the company to over $11 million.

Resideo Technologies (NYSE:REZI - Free Report) had its target price lifted by Oppenheimer from $35.00 to $48.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $24.00 to $35.00 in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Resideo Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $34.67.

Resideo Technologies Stock Up 0.6%

NYSE:REZI traded up $0.26 during trading hours on Friday, reaching $42.39. 444,996 shares of the company traded hands, compared to its average volume of 1,316,909. The business's 50-day moving average price is $31.40 and its two-hundred day moving average price is $23.52. The stock has a market capitalization of $6.31 billion, a P/E ratio of -7.76 and a beta of 2.24. Resideo Technologies has a 1 year low of $14.18 and a 1 year high of $42.99. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.12. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. Analysts predict that Resideo Technologies will post 2.13 earnings per share for the current year.

Insider Buying and Selling at Resideo Technologies

In related news, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the business's stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the transaction, the insider owned 10,232,420 shares in the company, valued at approximately $228,489,938.60. This trade represents a 77.82% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have purchased 7,545,693 shares of company stock worth $194,098,517 and have sold 136,021 shares worth $4,091,809. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Resideo Technologies

Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its stake in shares of Resideo Technologies by 17.8% in the 2nd quarter. Osaic Holdings Inc. now owns 16,932 shares of the company's stock worth $373,000 after buying an additional 2,562 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Resideo Technologies by 1.2% in the second quarter. Thrivent Financial for Lutherans now owns 109,197 shares of the company's stock valued at $2,409,000 after acquiring an additional 1,243 shares during the period. State of Wyoming lifted its holdings in Resideo Technologies by 16.4% in the second quarter. State of Wyoming now owns 21,540 shares of the company's stock valued at $475,000 after acquiring an additional 3,028 shares during the period. Public Sector Pension Investment Board lifted its holdings in Resideo Technologies by 6.8% in the second quarter. Public Sector Pension Investment Board now owns 565,425 shares of the company's stock valued at $12,473,000 after acquiring an additional 35,804 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Resideo Technologies during the 2nd quarter valued at about $34,000. Institutional investors own 91.71% of the company's stock.

Resideo Technologies Company Profile

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.