JPMorgan Chase & Co. Forecasts Strong Price Appreciation for UL Solutions (NYSE:ULS) Stock

UL Solutions (NYSE:ULS) had its target price raised by investment analysts at JPMorgan Chase & Co. from $55.00 to $58.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 8.99% from the company’s current price.

Several other brokerages have also recently issued reports on ULS. Robert W. Baird lifted their price objective on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price target on UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. UBS Group lifted their target price on shares of UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their price objective on shares of UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.80.

UL Solutions Stock Down 1.5 %

NYSE:ULS traded down $0.80 during trading hours on Friday, reaching $53.22. 48,764 shares of the stock were exchanged, compared to its average volume of 476,124. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23. The business has a 50-day moving average of $52.34 and a two-hundred day moving average of $51.90. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS) last released 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. The company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. As a group, research analysts predict that UL Solutions will post 1.53 earnings per share for the current year.

Insider Transactions at UL Solutions

In related news, insider Gitte Schjotz sold 5,941 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 69,191 shares of the company’s stock, valued at approximately $3,638,062.78. This represents a 7.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in shares of UL Solutions in the third quarter valued at approximately $25,000. Quarry LP acquired a new stake in shares of UL Solutions during the fourth quarter worth $32,000. PNC Financial Services Group Inc. grew its position in shares of UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock valued at $33,000 after purchasing an additional 582 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in UL Solutions in the third quarter valued at $84,000. Finally, KBC Group NV purchased a new position in UL Solutions during the fourth quarter worth about $163,000.

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.