Royal Bank of Canada Cuts Veralto (NYSE:VLTO) Price Target to $110.00

Veralto (NYSE:VLTO) had its target price reduced by Royal Bank of Canada from $111.00 to $110.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 11.26% from the company’s current price.

A number of other brokerages also recently commented on VLTO. Jefferies Financial Group started coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus lowered their target price on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $112.55.

Veralto Price Performance

Shares of NYSE:VLTO opened at $98.87 on Thursday. Veralto has a 1-year low of $81.23 and a 1-year high of $115.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The stock has a market cap of $24.45 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 4.35 and a beta of 1.06. The stock’s fifty day simple moving average is $103.10 and its two-hundred day simple moving average is $106.25.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 15.69% and a return on equity of 52.85%. As a group, analysts forecast that Veralto will post 3.48 EPS for the current fiscal year.

Institutional Trading of Veralto

Several hedge funds and other institutional investors have recently modified their holdings of VLTO. Ashton Thomas Securities LLC purchased a new position in Veralto in the 3rd quarter valued at approximately $25,000. OFI Invest Asset Management bought a new position in shares of Veralto in the fourth quarter worth $26,000. BankPlus Trust Department bought a new position in shares of Veralto in the fourth quarter worth $29,000. Raleigh Capital Management Inc. grew its position in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares in the last quarter. Finally, Albion Financial Group UT raised its stake in shares of Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares during the period. Institutional investors own 91.28% of the company’s stock.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.