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

UL Solutions (NYSE:ULS) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $64.00 to $70.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 6.15% from the company’s previous close.

A number of other research firms also recently issued reports on ULS. Citigroup reiterated a “neutral” rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. The Goldman Sachs Group increased their price target on UL Solutions from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Raymond James Financial increased their target price on shares of UL Solutions from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Finally, Robert W. Baird boosted their price target on shares of UL Solutions from $60.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.86.

UL Solutions Stock Up 0.8%

ULS stock opened at $65.95 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.24 and a current ratio of 1.32. UL Solutions has a fifty-two week low of $46.79 and a fifty-two week high of $74.15. The stock’s 50 day simple moving average is $70.83 and its 200 day simple moving average is $62.26. The company has a market cap of $13.22 billion, a P/E ratio of 40.71 and a beta of 1.00.

UL Solutions (NYSE:ULS) last issued its earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $771.55 million. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%. UL Solutions’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, research analysts expect that UL Solutions will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On UL Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULS. Sowell Financial Services LLC purchased a new stake in shares of UL Solutions during the 1st quarter valued at approximately $227,000. Fifth Third Bancorp boosted its holdings in shares of UL Solutions by 75.3% in the first quarter. Fifth Third Bancorp now owns 9,795 shares of the company’s stock worth $552,000 after acquiring an additional 4,206 shares during the period. SG Americas Securities LLC purchased a new position in shares of UL Solutions in the first quarter valued at $417,000. Vest Financial LLC bought a new stake in shares of UL Solutions during the 1st quarter valued at $881,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in UL Solutions during the 4th quarter worth about $332,000.

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.