Resideo Technologies (NYSE:REZI) Reaches New 12-Month High - Still a Buy?

Key Points

• Resideo Technologies shares reached a new 52-week high of $43.96, with analysts suggesting a consensus rating of "Moderate Buy" and a target price of $34.67.
• The company's quarterly earnings exceeded expectations, reporting $0.66 EPS and $1.94 billion in revenue, showing a 22.3% year-over-year revenue increase.
• Major shareholder Channel Holdings purchased over 4.4 million shares recently, significantly increasing their ownership stake, while institutional investors hold 91.71% of the company's stock.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.96 and last traded at $43.73, with a volume of 199648 shares traded. The stock had previously closed at $43.11.

Analysts Set New Price Targets

REZI has been the subject of a number of recent research reports. Morgan Stanley raised 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. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Resideo Technologies in a report on Saturday, September 27th. Zacks Research upgraded Resideo Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 22nd. Finally, Oppenheimer raised their price target on Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Resideo Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.67.

Resideo Technologies Stock Performance

The company has a quick ratio of 0.63, a current ratio of 1.00 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average price of $34.64 and a two-hundred day moving average price of $25.06. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -7.86 and a beta of 2.23.

Resideo Technologies (NYSE:REZI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.12. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. As a group, analysts forecast that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of the stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the completion of the transaction, the insider directly owned 10,232,420 shares in the company, valued at approximately $228,489,938.60. This trade represents a 77.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders acquired 7,545,693 shares of company stock worth $194,098,517 and sold 133,231 shares worth $4,025,742. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Resideo Technologies in the 2nd quarter valued at $34,000. IFP Advisors Inc lifted its position in Resideo Technologies by 20,133.3% during the 1st quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock worth $43,000 after acquiring an additional 2,416 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Resideo Technologies during the first quarter worth $65,000. GAMMA Investing LLC boosted its position in Resideo Technologies by 74.5% in the 2nd quarter. GAMMA Investing LLC now owns 5,393 shares of the company's stock valued at $119,000 after buying an additional 2,302 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Resideo Technologies by 1,261.2% during the first quarter. Exchange Traded Concepts LLC now owns 7,160 shares of the company's stock worth $127,000 after acquiring an additional 6,634 shares during the last quarter. 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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