Citigroup Boosts UL Solutions (NYSE:ULS) Price Target to $60.50

UL Solutions (NYSE:ULS) had its price target increased by research analysts at Citigroup from $60.00 to $60.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 13.06% from the stock’s current price.

Several other brokerages also recently weighed in on ULS. The Goldman Sachs Group increased their target price on UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Wells Fargo & Company lifted their price objective on UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. UBS Group lifted their price objective on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird lifted their price objective on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.45.

UL Solutions Stock Performance

Shares of NYSE ULS opened at $53.51 on Tuesday. The business’s 50-day simple moving average is $52.48 and its 200-day simple moving average is $52.01. UL Solutions has a 52 week low of $33.15 and a 52 week high of $59.23. The firm has a market cap of $10.71 billion and a price-to-earnings ratio of 33.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31.

UL Solutions (NYSE:ULS) last announced its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.11. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. As a group, equities research analysts expect that UL Solutions will post 1.69 earnings per share for the current fiscal year.

Insider Activity at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 5,941 shares of UL Solutions stock in a transaction on Monday, December 9th. The stock was sold at an average price of $52.58, for a total value of $312,377.78. Following the completion of the transaction, the insider now owns 69,191 shares in the company, valued at approximately $3,638,062.78. The trade was a 7.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On UL Solutions

Institutional investors have recently bought and sold shares of the business. Stone House Investment Management LLC bought a new stake in shares of UL Solutions during the third quarter worth $25,000. Quarry LP bought a new stake in shares of UL Solutions during the fourth quarter worth $32,000. PNC Financial Services Group Inc. raised its position in shares of UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock worth $33,000 after acquiring an additional 582 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in shares of UL Solutions during the third quarter worth $84,000. Finally, KBC Group NV bought a new stake in UL Solutions in the fourth quarter valued at about $163,000.

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.