Resideo Technologies (NYSE:REZI) Hits New 1-Year High - Time to Buy?

Key Points

• Resideo Technologies' stock reached a new 52-week high of $36.39 during trading, with analysts giving it a consensus rating of "Moderate Buy".
• Oppenheimer upgraded the company's rating from "market perform" to "outperform", while Morgan Stanley upped its price target from $24.00 to $35.00.
• The company's recent earnings report showed a strong performance with earnings per share of $0.66, exceeding estimates, and year-over-year revenue growth of 22.3%.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.39 and last traded at $35.69, with a volume of 1214579 shares trading hands. The stock had previously closed at $36.33.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Oppenheimer upgraded Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Finally, Morgan Stanley upgraded Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $24.00 to $35.00 in a report 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Resideo Technologies Trading Down 1.8%

The company has a 50 day moving average price of $28.60 and a 200 day moving average price of $22.20. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of -6.54 and a beta of 2.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 1.00.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The company's quarterly 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, research analysts expect that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insider Transactions at Resideo Technologies

In other news, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the purchase, the insider owned 10,232,420 shares in the company, valued at approximately $228,489,938.60. The trade was a 77.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders bought 7,545,693 shares of company stock worth $194,098,517 and sold 136,021 shares worth $4,091,809. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Resideo Technologies

Several hedge funds have recently bought and sold shares of the company. Boston Partners lifted its stake in Resideo Technologies by 1.6% during the 1st quarter. Boston Partners now owns 9,954,419 shares of the company's stock worth $175,640,000 after acquiring an additional 156,536 shares in the last quarter. Ariel Investments LLC lifted its stake in Resideo Technologies by 5.1% during the 1st quarter. Ariel Investments LLC now owns 9,664,671 shares of the company's stock worth $171,065,000 after acquiring an additional 465,571 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Resideo Technologies by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,205,405 shares of the company's stock worth $145,234,000 after acquiring an additional 223,063 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Resideo Technologies by 9.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 8,196,828 shares of the company's stock worth $145,084,000 after acquiring an additional 683,714 shares in the last quarter. Finally, Clayton Dubilier & Rice LLC acquired a new position in Resideo Technologies during the 2nd quarter worth about $127,290,000. Institutional investors and hedge funds 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.

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