Resideo Technologies (NYSE:REZI) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Resideo Technologies has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, reflecting positive sentiment among analysts.
• As part of recent price target increases, JPMorgan raised its target from $20.00 to $21.00, and Oppenheimer significantly increased its target from $35.00 to $48.00.
• The company's latest earnings report showed a 22.3% year-over-year revenue increase, with an earnings per share (EPS) of $0.66, exceeding analyst expectations.

Resideo Technologies (NYSE:REZI - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

REZI has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their target price on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Oppenheimer raised their price target on Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Finally, Morgan Stanley upgraded Resideo Technologies from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $24.00 to $35.00 in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $34.67.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $41.72 on Monday. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of -7.64 and a beta of 2.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63. Resideo Technologies has a 1 year low of $14.18 and a 1 year high of $42.99. The firm has a 50-day moving average of $31.77 and a two-hundred day moving average of $23.65.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.12. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $0.62 earnings per share. The company'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. On average, research analysts forecast that Resideo Technologies will post 2.13 earnings per share for the current year.

Insider Activity at Resideo Technologies

In related news, major shareholder Channel Holdings Ii L.P. Cd&R bought 228,573 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were bought at an average price of $33.63 per share, for a total transaction of $7,686,909.99. Following the completion of the purchase, the insider directly owned 13,270,734 shares of the company's stock, valued at approximately $446,294,784.42. This trade represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nina Richardson sold 3,333 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $34.55, for a total transaction of $115,155.15. Following the completion of the transaction, the director owned 60,675 shares of the company's stock, valued at $2,096,321.25. This represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 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 owned by corporate insiders.

Institutional Investors Weigh In On Resideo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Resideo Technologies in the second quarter valued at approximately $34,000. IFP Advisors Inc lifted its holdings in shares of Resideo Technologies by 20,133.3% during the 1st quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock valued at $43,000 after purchasing an additional 2,416 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Resideo Technologies by 52.1% during the 1st quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock valued at $56,000 after purchasing an additional 1,087 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Resideo Technologies in the 1st quarter worth $65,000. Finally, GAMMA Investing LLC grew its stake in Resideo Technologies by 74.5% during the 2nd quarter. GAMMA Investing LLC now owns 5,393 shares of the company's stock worth $119,000 after buying an additional 2,302 shares during the last quarter. Hedge funds and other 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.

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