Oppenheimer Forecasts Strong Price Appreciation for Resideo Technologies (NYSE:REZI) Stock

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 - Get Free Report) had its target price raised by analysts at Oppenheimer from $35.00 to $48.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 12.51% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Morgan Stanley upgraded Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $24.00 to $35.00 in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price on Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $34.67.

Resideo Technologies Stock Performance

REZI opened at $42.66 on Friday. Resideo Technologies has a 12-month low of $14.18 and a 12-month high of $42.00. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of -7.81 and a beta of 2.24. The business has a 50 day moving average of $30.66 and a 200-day moving average of $23.12. The company has a quick ratio of 0.63, a current ratio of 1.00 and a debt-to-equity ratio of 0.93.

Resideo Technologies (NYSE:REZI - Get Free Report) last released 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 company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same period last year, the firm posted $0.62 earnings per share. The business's revenue was up 22.3% on a year-over-year basis. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. On average, equities research analysts expect that Resideo Technologies will post 2.13 earnings per share for the current year.

Insider Activity at Resideo Technologies

In other news, Director Andrew C. Teich acquired 29,460 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were bought at an average price of $34.01 per share, with a total value of $1,001,934.60. Following the acquisition, the director directly owned 332,472 shares in the company, valued at $11,307,372.72. The trade was a 9.72% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Channel Holdings Ii L.P. Cd&R acquired 228,573 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average cost of $33.63 per share, for a total transaction of $7,686,909.99. Following the acquisition, the insider owned 13,270,734 shares in the company, valued at $446,294,784.42. This represents a 1.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 7,545,693 shares of company stock valued at $194,098,517 and have sold 136,021 shares valued at $4,091,809. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Resideo Technologies

Several hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in shares of Resideo Technologies by 1.0% during the 2nd quarter. Amalgamated Bank now owns 42,164 shares of the company's stock valued at $930,000 after acquiring an additional 415 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Resideo Technologies by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 10,565 shares of the company's stock worth $233,000 after buying an additional 437 shares during the period. Hsbc Holdings PLC lifted its holdings in Resideo Technologies by 2.5% during the 1st quarter. Hsbc Holdings PLC now owns 23,372 shares of the company's stock worth $412,000 after buying an additional 578 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Resideo Technologies by 0.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 162,259 shares of the company's stock worth $3,579,000 after buying an additional 625 shares during the period. Finally, Maryland State Retirement & Pension System lifted its holdings in Resideo Technologies by 1.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 43,643 shares of the company's stock worth $963,000 after buying an additional 742 shares during the period. Institutional investors and hedge funds own 91.71% of the company's stock.

About Resideo Technologies

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.

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