UL Solutions (NYSE:ULS) Price Target Increased to $56.00 by Analysts at Wells Fargo & Company

UL Solutions (NYSE:ULS) had its price target hoisted by equities research analysts at Wells Fargo & Company from $43.00 to $56.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.75% from the stock’s current price.

A number of other brokerages have also issued reports on ULS. Citigroup began coverage on UL Solutions in a research report on Tuesday, May 7th. They set a “buy” rating and a $41.00 price target for the company. Stifel Nicolaus assumed coverage on shares of UL Solutions in a research report on Tuesday, May 7th. They issued a “buy” rating and a $40.00 target price for the company. Bank of America started coverage on shares of UL Solutions in a research report on Tuesday, May 7th. They set a “buy” rating and a $42.00 price target on the stock. Raymond James initiated coverage on shares of UL Solutions in a research note on Tuesday, May 7th. They set an “outperform” rating and a $42.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on UL Solutions in a research report on Tuesday, May 7th. They issued a “neutral” rating and a $39.00 target price for the company. Four 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 currently has an average rating of “Moderate Buy” and a consensus price target of $43.30.

UL Solutions Stock Up 2.8 %

Shares of ULS stock traded up $1.44 during trading hours on Thursday, reaching $51.97. The stock had a trading volume of 111,853 shares, compared to its average volume of 682,370. The company’s 50-day simple moving average is $42.23. UL Solutions has a twelve month low of $33.15 and a twelve month high of $52.63. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.27.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.38 by $0.06. The firm had revenue of $730.00 million during the quarter, compared to analyst estimates of $718.73 million. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that UL Solutions will post 1.42 EPS for the current year.

Institutional Trading of UL Solutions

Institutional investors have recently made changes to their positions in the stock. Bellecapital International Ltd. acquired a new stake in shares of UL Solutions during the 2nd quarter valued at $208,000. Raymond James & Associates acquired a new position in shares of UL Solutions in the second quarter worth $9,089,000. Hall Laurie J Trustee purchased a new stake in shares of UL Solutions during the second quarter worth $2,066,000. TFC Financial Management Inc. acquired a new stake in UL Solutions during the second quarter valued at $88,000. Finally, Bank of New York Mellon Corp purchased a new position in UL Solutions in the second quarter valued at about $586,000.

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.