Resideo Technologies (NYSE:REZI) Reaches New 52-Week High Following Insider Buying Activity

Key Points

• Resideo Technologies shares reached a new 52-week high of $34.97 due to significant insider buying, with Director Andrew C. Teich purchasing nearly 30,000 shares.
• Analysts have positively revised their ratings on REZI, with upgrades from Oppenheimer and Morgan Stanley, raising the average target price to $28.00.
• The company reported $1.94 billion in revenue for the last quarter, reflecting a 22.3% increase year-over-year and exceeding analyst expectations.

Shares of Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) hit a new 52-week high on Thursday following insider buying activity. The company traded as high as $34.97 and last traded at $34.91, with a volume of 328058 shares changing hands. The stock had previously closed at $33.83.

Specifically, Director Andrew C. Teich purchased 29,460 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were acquired at an average price of $34.01 per share, for a total transaction of $1,001,934.60. Following the completion of the acquisition, the director directly owned 332,472 shares in the company, valued at approximately $11,307,372.72. The trade was a 9.72% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

Several analysts recently weighed in on REZI shares. Oppenheimer upgraded shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target 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. Finally, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $24.00 to $35.00 in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $28.00.

Resideo Technologies Trading Up 2.9%

The stock has a 50-day simple moving average of $27.55 and a two-hundred day simple moving average of $21.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 1.00. The firm has a market cap of $5.18 billion, a PE ratio of -6.38 and a beta of 2.24.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. Resideo Technologies's 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. As a group, sell-side analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Resideo Technologies

Hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of Resideo Technologies during the 2nd quarter valued at about $34,000. IFP Advisors Inc increased its position 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 increased its position 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 purchased a new stake in shares of Resideo Technologies during the 1st quarter valued at about $65,000. Finally, GAMMA Investing LLC grew its stake in shares of Resideo Technologies by 74.5% during the 2nd quarter. GAMMA Investing LLC now owns 5,393 shares of the company's stock valued at $119,000 after acquiring an additional 2,302 shares during the period. 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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