Resideo Technologies (NYSE:REZI) Reaches New 12-Month High - Here's Why

Key Points

• Resideo Technologies (NYSE:REZI) shares reached a new 52-week high of $34.84, with a strong trading volume of over 1.4 million shares.
• Analysts have recently upgraded Resideo's ratings, with Morgan Stanley raising its price target from $24.00 to $35.00, reflecting broader positive sentiment about the stock.
• The company reported a 22.3% increase in revenue year-over-year, reaching $1.94 billion, and beat earnings estimates with an EPS of $0.66.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $34.84 and last traded at $34.68, with a volume of 1430406 shares. The stock had previously closed at $34.56.

Analysts Set New Price Targets

REZI has been the subject of several recent research reports. Morgan Stanley raised shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $24.00 to $35.00 in a report on Tuesday, August 12th. Oppenheimer raised shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $28.00.

Resideo Technologies Stock Down 2.2%

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63. The business's fifty day simple moving average is $27.08 and its two-hundred day simple moving average is $21.63. The company has a market cap of $4.95 billion, a PE ratio of -6.09 and a beta of 2.24.

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 for the quarter, beating analysts' consensus estimates of $0.54 by $0.12. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.83 billion. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous 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, analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insider Transactions at Resideo Technologies

In other news, EVP Jeannine J. Lane sold 35,398 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $31.31, for a total transaction of $1,108,311.38. Following the completion of the sale, the executive vice president owned 155,136 shares of the company's stock, valued at $4,857,308.16. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Channel Holdings Ii L.P. Cd&R bought 12,327 shares of the business's stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $33.95 per share, with a total value of $418,501.65. Following the purchase, the insider directly owned 12,862,161 shares of the company's stock, valued at approximately $436,670,365.95. This represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 7,107,660 shares of company stock valued at $179,370,672 and sold 136,021 shares valued at $4,091,809. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Resideo Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Resideo Technologies during the fourth quarter worth about $28,000. Headlands Technologies LLC acquired a new position in Resideo Technologies during the second quarter worth about $34,000. IFP Advisors Inc boosted its position in Resideo Technologies by 20,133.3% during the first quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock worth $43,000 after acquiring an additional 2,416 shares during the last quarter. Versant Capital Management Inc boosted its position in Resideo Technologies by 52.1% during the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock worth $56,000 after acquiring an additional 1,087 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Resideo Technologies during the first quarter worth about $65,000. Hedge funds and other institutional investors 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.