Citigroup Lowers UL Solutions (NYSE:ULS) Price Target to $87.80

UL Solutions (NYSE:ULS) had its price target dropped by research analysts at Citigroup from $88.10 to $87.80 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 7.16% from the stock’s current price.

Several other equities research analysts have also commented on ULS. JPMorgan Chase & Co. upped their target price on UL Solutions from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Wells Fargo & Company raised their price target on shares of UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a report on Friday, February 20th. Zacks Research cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Finally, Robert W. Baird decreased their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $87.60.

UL Solutions Stock Performance

NYSE:ULS opened at $81.93 on Tuesday. UL Solutions has a fifty-two week low of $49.34 and a fifty-two week high of $91.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50 day simple moving average of $76.22 and a two-hundred day simple moving average of $75.41. The company has a market capitalization of $16.46 billion, a PE ratio of 51.53, a P/E/G ratio of 3.31 and a beta of 1.11.

UL Solutions (NYSE:ULS) last released its earnings results on Thursday, February 19th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The business had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. UL Solutions’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts anticipate that UL Solutions will post 1.69 earnings per share for the current year.

Institutional Trading of UL Solutions

A number of institutional investors and hedge funds have recently modified their holdings of ULS. Royal Bank of Canada boosted its position in UL Solutions by 119.5% in the first quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after purchasing an additional 78,081 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in UL Solutions by 104.3% in the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock valued at $25,953,000 after acquiring an additional 234,913 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of UL Solutions by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock valued at $6,981,000 after acquiring an additional 13,205 shares during the period. Rhumbline Advisers bought a new position in shares of UL Solutions during the 1st quarter valued at approximately $49,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in UL Solutions in the second quarter worth $1,933,000.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.