Resideo Technologies (NYSE:REZI) Reaches New 1-Year High - Here's What Happened

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as $23.65 and last traded at $23.60, with a volume of 1024323 shares. The stock had previously closed at $21.75.

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 on the stock.

Resideo Technologies Price Performance

The stock has a market capitalization of $3.52 billion, a PE ratio of 20.06 and a beta of 2.09. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $19.87 and a 200 day moving average price of $20.20.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.20. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.53 billion. Resideo Technologies had a net margin of 2.85% and a return on equity of 10.32%. The firm's revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. Research analysts anticipate that Resideo Technologies, Inc. will post 1.92 earnings per share for the current year.

Institutional Investors Weigh In On Resideo Technologies

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Resideo Technologies by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,822,902 shares of the company's stock worth $153,015,000 after acquiring an additional 397,864 shares during the period. Boston Partners boosted its stake in Resideo Technologies by 3.0% in the 1st quarter. Boston Partners now owns 6,700,564 shares of the company's stock worth $150,177,000 after purchasing an additional 193,351 shares during the period. Pacer Advisors Inc. grew its holdings in Resideo Technologies by 14.8% during 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 in the last quarter. Bank of New York Mellon Corp raised its position in shares of Resideo Technologies by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,312,932 shares of the company's stock valued at $25,681,000 after buying an additional 17,505 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Resideo Technologies by 53.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,214,375 shares of the company's stock worth $23,753,000 after buying an additional 422,730 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.