Resideo Technologies, Inc. (NYSE:REZI) Receives Average Recommendation of “Hold” from Brokerages

Resideo Technologies, Inc. (NYSE:REZI) has earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $34.6667.

REZI has been the subject of a number of research reports. Morgan Stanley upgraded shares of Resideo Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $24.00 to $35.00 in a report on Tuesday, August 12th. Zacks Research cut shares of Resideo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Oppenheimer lifted their price target on shares of Resideo Technologies from $35.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Wall Street Zen cut shares of Resideo Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a report on Wednesday, October 8th.

Insider Activity

In other news, major shareholder Channel Holdings Ii L.P. Cd&R bought 566,758 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $31.82 per share, for a total transaction of $18,034,239.56. Following the completion of the acquisition, the insider directly owned 14,960,492 shares in the company, valued at approximately $476,042,855.44. This represents a 3.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew C. Teich bought 8,149 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $30.68 per share, for a total transaction of $250,011.32. Following the transaction, the director owned 340,621 shares in the company, valued at $10,450,252.28. This represents a 2.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 1,697,907 shares of company stock valued at $53,222,621. Insiders own 1.50% of the company’s stock.

Institutional Trading of Resideo Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clayton Dubilier & Rice LLC increased its holdings in shares of Resideo Technologies by 130.3% during the third quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company’s stock valued at $573,706,000 after acquiring an additional 7,516,233 shares in the last quarter. Nuveen LLC acquired a new stake in Resideo Technologies in the 1st quarter valued at $34,239,000. Norges Bank bought a new stake in Resideo Technologies during the 2nd quarter valued at $40,374,000. Franklin Resources Inc. increased its stake in Resideo Technologies by 1,325.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company’s stock valued at $81,553,000 after purchasing an additional 1,756,131 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd acquired a new position in Resideo Technologies during the second quarter worth $35,419,000. 91.71% of the stock is owned by institutional investors.

Resideo Technologies Trading Down 0.5%

Shares of REZI stock opened at $33.73 on Wednesday. The firm has a market capitalization of $5.05 billion, a P/E ratio of -7.21 and a beta of 1.74. Resideo Technologies has a twelve month low of $14.18 and a twelve month high of $45.29. The company has a quick ratio of 1.07, a current ratio of 1.88 and a debt-to-equity ratio of 1.38. The stock’s fifty day simple moving average is $38.10 and its 200 day simple moving average is $31.04.

Resideo Technologies (NYSE:REZI) last posted its earnings results on Wednesday, November 5th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.71 by $0.18. Resideo Technologies had a positive return on equity of 14.96% and a negative net margin of 8.85%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $0.58 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS and its Q4 2025 guidance at 0.420-0.520 EPS. As a group, sell-side analysts predict that Resideo Technologies will post 2.13 EPS for the current fiscal year.

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.