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

Resideo Technologies, Inc. (NYSE:REZI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $26.29 and last traded at $26.21, with a volume of 2678 shares changing hands. The stock had previously closed at $26.12.

Analyst Ratings Changes

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

Resideo Technologies Stock Performance

The firm has a market cap of $3.84 billion, a PE ratio of 23.43 and a beta of 2.09. The firm’s 50 day simple moving average is $20.89 and its 200 day simple moving average is $20.52. The company has a current ratio of 1.82, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

Hedge Funds Weigh In On Resideo Technologies

A number of large investors have recently made changes to their positions in REZI. Geode Capital Management LLC boosted its position in Resideo Technologies by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,363,750 shares of the company’s stock worth $67,759,000 after purchasing an additional 26,000 shares in the last quarter. Vestcor Inc grew its position in shares of Resideo Technologies by 287.6% during the third quarter. Vestcor Inc now owns 33,826 shares of the company’s stock worth $681,000 after buying an additional 25,100 shares in the last quarter. Barclays PLC lifted its position in shares of Resideo Technologies by 358.9% during the 3rd quarter. Barclays PLC now owns 262,698 shares of the company’s stock worth $5,290,000 after buying an additional 205,453 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Resideo Technologies during the third quarter worth approximately $589,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of Resideo Technologies in the 3rd quarter valued at approximately $520,000. 91.71% of the stock is owned by institutional investors and hedge funds.

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.