Resideo Technologies (NYSE:REZI) Hits New 52-Week High - Should You Buy?

Key Points

• Resideo Technologies' stock reached a new 52-week high of $39.84, closing at $38.91 with a trading volume of over 3.3 million shares.
• Analysts have given Resideo Technologies a consensus rating of "Moderate Buy," with target price estimates ranging from $21.00 to $35.00, indicating strong growth potential.
• The company reported earnings of $0.66 per share, surpassing estimates, with revenue up 22.3% year-over-year at $1.94 billion for the last quarter.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $39.84 and last traded at $38.91, with a volume of 3385987 shares. The stock had previously closed at $38.07.

Analyst Ratings Changes

Several brokerages have recently issued reports on REZI. Morgan Stanley raised shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. Oppenheimer boosted their price target on shares of Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price target 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. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.67.

Resideo Technologies Stock Up 1.4%

The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.25 billion, a P/E ratio of -7.69 and a beta of 2.24. The company has a 50-day simple moving average of $31.03 and a 200 day simple moving average of $23.29.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.54 by $0.12. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.Resideo Technologies's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. 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 analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Insiders Place Their Bets

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $22.33 per share, for a total transaction of $99,991,931.27. Following the completion of the acquisition, the insider directly owned 10,232,420 shares of the company's stock, valued at $228,489,938.60. This trade represents a 77.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders acquired 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in REZI. Amalgamated Bank raised its holdings in shares of Resideo Technologies by 1.0% in 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. raised its position in Resideo Technologies by 4.3% during the second quarter. QRG Capital Management Inc. now owns 10,565 shares of the company's stock valued at $233,000 after purchasing an additional 437 shares during the period. Hsbc Holdings PLC grew its stake in Resideo Technologies by 2.5% in the first quarter. Hsbc Holdings PLC now owns 23,372 shares of the company's stock worth $412,000 after purchasing an additional 578 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Resideo Technologies by 0.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 162,259 shares of the company's stock worth $3,579,000 after purchasing an additional 625 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in shares of Resideo Technologies by 1.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 43,643 shares of the company's stock valued at $963,000 after buying an additional 742 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

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.