JPMorgan Chase & Co. Increases UL Solutions (NYSE:ULS) Price Target to $58.00

UL Solutions (NYSE:ULS) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $55.00 to $58.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 9.34% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Robert W. Baird upped their price objective on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. UBS Group lifted their target price on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their target price on shares of UL Solutions from $45.00 to $51.00 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, UL Solutions has an average rating of “Moderate Buy” and a consensus price target of $51.40.

UL Solutions Stock Performance

ULS opened at $53.05 on Friday. 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 has a 52-week low of $33.15 and a 52-week high of $59.23. The firm has a market cap of $10.62 billion and a P/E ratio of 32.74. The business’s fifty day moving average is $52.39 and its 200-day moving average is $51.94.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. The firm had revenue of $739.00 million for the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. Sell-side analysts expect that UL Solutions will post 1.69 EPS for the current fiscal year.

Insider Activity

In other news, insider Gitte Schjotz sold 5,941 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $52.58, for a total value of $312,377.78. Following 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 Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On UL Solutions

A number of hedge funds have recently bought and sold shares of the company. Raymond James & Associates boosted its position in shares of UL Solutions by 2.4% during the 3rd quarter. Raymond James & Associates now owns 220,609 shares of the company’s stock worth $10,876,000 after purchasing an additional 5,177 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of UL Solutions by 19.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company’s stock valued at $36,805,000 after purchasing an additional 122,975 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in UL Solutions by 2.3% in the third quarter. Conestoga Capital Advisors LLC now owns 708,513 shares of the company’s stock worth $34,930,000 after acquiring an additional 15,722 shares during the period. Phillips Wealth Planners LLC bought a new stake in shares of UL Solutions in the 3rd quarter worth approximately $218,000. Finally, WoodTrust Financial Corp bought a new stake in shares of UL Solutions in the third quarter valued at $228,000.

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.