Resideo Technologies (NYSE:REZI) Hits New 12-Month High – Should You Buy?

Shares of Resideo Technologies, Inc. (NYSE:REZI) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $25.56 and last traded at $25.30, with a volume of 27888 shares. The stock had previously closed at $25.36.

Analysts Set New Price Targets

Separately, Evercore ISI assumed coverage on Resideo Technologies in a research report on Friday, August 9th. They issued an “outperform” rating and a $25.00 target price for the company.

Resideo Technologies Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.82. The stock’s 50-day moving average price is $20.57 and its two-hundred day moving average price is $20.42. The stock has a market capitalization of $3.79 billion, a PE ratio of 23.23 and a beta of 2.09.

Hedge Funds Weigh In On Resideo Technologies

Several large investors have recently made changes to their positions in the business. UniSuper Management Pty Ltd purchased a new position in Resideo Technologies during the first quarter valued at $694,000. Boston Partners increased its holdings in shares of Resideo Technologies by 3.0% during the first quarter. Boston Partners now owns 6,700,564 shares of the company’s stock valued at $150,177,000 after acquiring an additional 193,351 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Resideo Technologies by 53.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,214,375 shares of the company’s stock worth $23,753,000 after purchasing an additional 422,730 shares during the last quarter. AXA S.A. boosted its stake in Resideo Technologies by 198.8% in the 2nd quarter. AXA S.A. now owns 100,427 shares of the company’s stock worth $1,964,000 after purchasing an additional 66,817 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Resideo Technologies by 54.8% during the 2nd quarter. Victory Capital Management Inc. now owns 145,025 shares of the company’s stock valued at $2,837,000 after purchasing an additional 51,338 shares during the last quarter. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

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.