Resideo Technologies (NYSE:REZI) Reaches New 52-Week High – Time to Buy?

Resideo Technologies, Inc. (NYSE:REZI)’s share price hit 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.

Wall Street Analysts Forecast Growth

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

Resideo Technologies Stock Performance

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 company has a market capitalization of $3.75 billion, a P/E ratio of 22.86 and a beta of 2.09. The stock’s fifty day moving average price is $20.29 and its 200-day moving average price is $20.35.

Hedge Funds Weigh In On Resideo Technologies

Several large investors have recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in Resideo Technologies by 14.8% in the 2nd quarter. Pacer Advisors Inc. now owns 6,104,301 shares of the company’s stock valued at $119,400,000 after buying an additional 787,934 shares during the last quarter. Beaconlight Capital LLC grew its position in shares of Resideo Technologies by 64.9% in the third quarter. Beaconlight Capital LLC now owns 1,088,926 shares of the company’s stock valued at $21,931,000 after purchasing an additional 428,669 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Resideo Technologies by 53.4% during 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. Dimensional Fund Advisors LP boosted its stake in Resideo Technologies by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,822,902 shares of the company’s stock valued at $153,015,000 after purchasing an additional 397,864 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Resideo Technologies by 167.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 542,409 shares of the company’s stock valued at $10,610,000 after purchasing an additional 339,434 shares during the period. 91.71% of the stock is owned by institutional investors.

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.