UBS Group Increases UL Solutions (NYSE:ULS) Price Target to $54.00

UL Solutions (NYSE:ULS) had its price objective lifted by analysts at UBS Group from $52.00 to $54.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 6.82% from the company’s current price.

ULS has been the topic of a number of other research reports. Wells Fargo & Company lifted their target price on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday. Baird R W lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Citigroup assumed coverage on UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 target price on the stock. Robert W. Baird increased their price target on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

UL Solutions Price Performance

Shares of ULS traded down $0.99 on Wednesday, hitting $50.55. The company’s stock had a trading volume of 1,275,491 shares, compared to its average volume of 745,054. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick 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 firm’s fifty day moving average price is $51.24 and its 200-day moving average price is $45.69.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. The company had revenue of $731.00 million during the quarter, compared to the consensus estimate of $709.41 million. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that UL Solutions will post 1.48 EPS for the current year.

Insider Activity

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC purchased a new stake in UL Solutions in the 2nd quarter valued at $3,536,000. Federated Hermes Inc. purchased a new stake in shares of UL Solutions during the second quarter valued at approximately $13,636,000. Discovery Capital Management LLC CT bought a new stake in UL Solutions during the second quarter worth $1,055,000. Raymond James & Associates bought a new position in UL Solutions in the 2nd quarter valued at $9,089,000. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of UL Solutions during the 2nd quarter valued at $20,040,000.

About UL Solutions

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.