Citigroup Lowers UL Solutions (NYSE:ULS) Price Target to $87.80

UL Solutions (NYSE:ULS) had its target price cut by Citigroup from $88.10 to $87.80 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 10.70% from the stock’s current price.

ULS has been the subject of several other research reports. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Bank of America lifted their price objective on UL Solutions to $86.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. UBS Group upped their target price on shares of UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday. Weiss Ratings downgraded shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a research report on Friday. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, UL Solutions has a consensus rating of “Hold” and a consensus target price of $87.60.

UL Solutions Price Performance

Shares of UL Solutions stock traded up $1.03 during trading on Tuesday, hitting $79.31. 249,217 shares of the company’s stock traded hands, compared to its average volume of 1,149,912. The company has a market cap of $15.93 billion, a PE ratio of 49.92, a PEG ratio of 4.45 and a beta of 1.12. The firm’s fifty day moving average price is $76.08 and its 200 day moving average price is $75.26. UL Solutions has a twelve month low of $49.34 and a twelve month high of $91.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $789.00 million during the quarter, compared to analysts’ expectations of $782.37 million. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 earnings per share. Analysts forecast that UL Solutions will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors grew its stake in UL Solutions by 6.6% during the 4th quarter. Capital International Investors now owns 8,043,735 shares of the company’s stock worth $634,616,000 after buying an additional 495,424 shares during the last quarter. Vanguard Group Inc. increased its stake in UL Solutions by 21.9% in the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock valued at $531,567,000 after purchasing an additional 1,213,188 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of UL Solutions by 10.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after buying an additional 545,528 shares during the period. Capital Research Global Investors grew its holdings in shares of UL Solutions by 20.6% during the third quarter. Capital Research Global Investors now owns 3,942,905 shares of the company’s stock worth $279,394,000 after buying an additional 674,088 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of UL Solutions by 1.8% during the fourth quarter. Janus Henderson Group PLC now owns 3,024,820 shares of the company’s stock worth $238,538,000 after buying an additional 54,910 shares during the last quarter.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.