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

Key Points

• Resideo Technologies shares reached a new 52-week high at $43.20 during trading, closing at $43.19 with significant volume.
• Brokerages have recently upgraded their ratings for Resideo, with Oppenheimer setting a price target of $48.00, indicating a bullish outlook.
• The company reported a 22.3% year-over-year increase in quarterly revenue, reaching $1.94 billion, and exceeded earnings expectations with $0.66 EPS.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $43.20 and last traded at $43.19, with a volume of 1512984 shares. The stock had previously closed at $41.99.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on REZI. Oppenheimer boosted their price target on shares of Resideo Technologies from $35.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. JPMorgan Chase & Co. boosted their price target on shares of Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Zacks Research upgraded shares of Resideo Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 22nd. Finally, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $34.67.

Resideo Technologies Stock Up 2.9%

The firm's 50-day moving average price is $33.15 and its 200 day moving average price is $24.36. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of -7.91 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 (NYSE:REZI - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business earned $0.62 earnings per share. The company's quarterly 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. Sell-side analysts expect that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Insider Activity

In other news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of Resideo Technologies stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the completion of the purchase, the insider owned 10,232,420 shares of the company's stock, valued at approximately $228,489,938.60. This represents a 77.82% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have purchased 7,545,693 shares of company stock worth $194,098,517 and have sold 136,021 shares worth $4,091,809. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Resideo Technologies

A number of large investors have recently bought and sold shares of REZI. Headlands Technologies LLC purchased a new position in Resideo Technologies during the second quarter worth approximately $34,000. IFP Advisors Inc raised its stake 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 purchasing an additional 2,416 shares during the period. Versant Capital Management Inc raised its stake 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 purchasing an additional 1,087 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Resideo Technologies during the first quarter worth approximately $65,000. Finally, GAMMA Investing LLC raised its stake in Resideo Technologies by 74.5% during the second quarter. GAMMA Investing LLC now owns 5,393 shares of the company's stock worth $119,000 after purchasing an additional 2,302 shares during the period. 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.

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