Raymond James Forecasts Strong Price Appreciation for UL Solutions (NYSE:ULS) Stock

UL Solutions (NYSE:ULS) had its target price increased by investment analysts at Raymond James from $60.00 to $72.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 2.26% from the stock’s current price.

Several other brokerages also recently issued reports on ULS. The Goldman Sachs Group upped their target price on shares of UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their target price on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Citigroup boosted their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research report on Tuesday, February 25th. UBS Group raised their target price on shares of UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.93.

UL Solutions Trading Up 0.6 %

NYSE:ULS opened at $70.41 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions has a 12 month low of $35.60 and a 12 month high of $71.89. The company has a 50-day moving average price of $55.77 and a 200-day moving average price of $53.56. The stock has a market cap of $14.09 billion and a price-to-earnings ratio of 43.46.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that UL Solutions will post 1.69 EPS for the current year.

Insider Activity

In related news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the sale, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at $492,105. This represents a 17.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On UL Solutions

A number of large investors have recently bought and sold shares of ULS. Natixis Advisors LLC bought a new stake in UL Solutions during the 1st quarter valued at $602,000. Federated Hermes Inc. boosted its stake in UL Solutions by 1.9% in the 1st quarter. Federated Hermes Inc. now owns 657,200 shares of the company’s stock worth $37,066,000 after purchasing an additional 12,400 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of UL Solutions by 3.4% during the first quarter. Picton Mahoney Asset Management now owns 118,617 shares of the company’s stock worth $6,689,000 after buying an additional 3,896 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in UL Solutions by 5.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,338 shares of the company’s stock valued at $1,034,000 after purchasing an additional 900 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in UL Solutions by 8.7% in the first quarter. TD Asset Management Inc now owns 261,860 shares of the company’s stock valued at $14,769,000 after buying an additional 20,906 shares during the last quarter.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.