UL Solutions (NYSE:ULS) Price Target Raised to $57.00

UL Solutions (NYSE:ULS - Get Free Report) had its price objective raised by investment analysts at Robert W. Baird from $53.00 to $57.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price objective points to a potential upside of 12.83% from the stock's current price.

A number of other research firms have also recently commented on ULS. Wells Fargo & Company lifted their price objective on UL Solutions from $43.00 to $56.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Citigroup started coverage on shares of UL Solutions in a report on Monday, October 7th. They set a "buy" rating and a $60.00 price target for the company. Baird R W lowered shares of UL Solutions from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 12th. Finally, The Goldman Sachs Group boosted their price target on UL Solutions from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $49.00.

UL Solutions Price Performance

ULS stock traded down $1.02 during midday trading on Wednesday, hitting $50.52. 1,457,190 shares of the stock were exchanged, compared to its average volume of 745,700. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29. UL Solutions has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The stock's 50-day moving average price is $51.24 and its 200-day moving average price is $45.69.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.12. The business had revenue of $731.00 million for the quarter, compared to analysts' expectations of $709.41 million. UL Solutions's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, research analysts forecast that UL Solutions will post 1.48 EPS for the current fiscal year.

Insider Buying and Selling at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of UL Solutions

Large investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new position in UL Solutions during the second quarter valued at $96,262,000. American Century Companies Inc. acquired a new position in shares of UL Solutions in the 2nd quarter valued at about $68,832,000. AltraVue Capital LLC purchased a new stake in shares of UL Solutions in the second quarter worth approximately $35,050,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of UL Solutions by 19.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company's stock worth $36,805,000 after purchasing an additional 122,975 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in UL Solutions by 2.3% during the third quarter. Conestoga Capital Advisors LLC now owns 708,513 shares of the company's stock valued at $34,930,000 after purchasing an additional 15,722 shares in 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.