UL Solutions (NYSE:ULS) Stock Price Expected to Rise, Robert W. Baird Analyst Says

UL Solutions (NYSE:ULS) had its price target raised by equities researchers at Robert W. Baird from $53.00 to $57.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential upside of 10.68% from the company’s current price.

Several other research firms have also issued reports on ULS. The Goldman Sachs Group boosted their price target on shares of UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Baird R W cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Citigroup began coverage on shares of UL Solutions in a research report on Monday, October 7th. They set a “buy” rating and a $60.00 price target for the company. Finally, Wells Fargo & Company increased 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. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.20.

UL Solutions Stock Performance

NYSE ULS opened at $51.50 on Wednesday. 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 52-week low of $33.15 and a 52-week high of $59.23. The company has a 50-day simple moving average of $51.24 and a 200 day simple moving average of $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 firm had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $709.41 million. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts forecast that UL Solutions will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On UL Solutions

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in shares of UL Solutions in the second quarter worth approximately $3,536,000. Federated Hermes Inc. bought a new position in shares of UL Solutions during the second quarter valued at $13,636,000. Discovery Capital Management LLC CT purchased a new stake in shares of UL Solutions during the second quarter valued at $1,055,000. Raymond James & Associates bought a new stake in UL Solutions in the 2nd quarter worth about $9,089,000. Finally, Ghisallo Capital Management LLC purchased a new position in UL Solutions in the 2nd quarter worth about $20,040,000.

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.