Resideo Technologies (NYSE:REZI) Hits New 52-Week High – Still a Buy?

Shares of Resideo Technologies, Inc. (NYSE:REZI) hit a new 52-week high on Tuesday . The stock traded as high as $39.84 and last traded at $38.91, with a volume of 3385987 shares trading hands. The stock had previously closed at $38.07.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Resideo Technologies from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, June 3rd. Morgan Stanley raised 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 research note on Tuesday, August 12th. Finally, Oppenheimer raised shares of Resideo Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 30th. Two equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Resideo Technologies Stock Performance

The stock’s 50 day moving average price is $29.69 and its 200 day moving average price is $22.73. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The company has a market cap of $5.79 billion, a price-to-earnings ratio of -7.13 and a beta of 2.24.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) 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 analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s revenue for the quarter 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. On average, analysts expect that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Insider Transactions at Resideo Technologies

In other news, major shareholder Channel Holdings Ii L.P. Cd&R bought 228,573 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average price of $33.63 per share, for a total transaction of $7,686,909.99. Following the acquisition, the insider owned 13,270,734 shares of the company’s stock, valued at $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 SEC, which is available at this link. Also, Director Andrew C. Teich bought 29,460 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were purchased at an average price of $34.01 per share, with a total value of $1,001,934.60. Following the acquisition, the director directly owned 332,472 shares in the company, valued at approximately $11,307,372.72. This trade represents a 9.72% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,545,693 shares of company stock worth $194,098,517 and sold 136,021 shares worth $4,091,809. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Resideo Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Boston Partners boosted its holdings in Resideo Technologies by 1.6% in the 1st quarter. Boston Partners now owns 9,954,419 shares of the company’s stock worth $175,640,000 after acquiring an additional 156,536 shares during the period. Ariel Investments LLC boosted its holdings in Resideo Technologies by 5.1% in the 1st quarter. Ariel Investments LLC now owns 9,664,671 shares of the company’s stock worth $171,065,000 after acquiring an additional 465,571 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Resideo Technologies by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,205,405 shares of the company’s stock worth $145,234,000 after acquiring an additional 223,063 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Resideo Technologies by 9.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 8,196,828 shares of the company’s stock worth $145,084,000 after acquiring an additional 683,714 shares during the period. Finally, Clayton Dubilier & Rice LLC purchased a new position in Resideo Technologies in the 2nd quarter worth approximately $127,290,000. 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.