UBS Group Lowers UL Solutions (NYSE:ULS) Price Target to $70.00

Key Points

• UBS Group has reduced its price target for UL Solutions from $72.00 to $70.00, maintaining a "neutral" rating on the stock.
• Despite the downgrade from UBS, the stock is projected to have a potential upside of 8.41% from its current price.
• Overall, analysts generally rate UL Solutions as "Hold," with a consensus target price of $69.14.

UL Solutions (NYSE:ULS - Get Free Report) had its target price lowered by UBS Group from $72.00 to $70.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target points to a potential upside of 8.41% from the stock's current price.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group lifted their price target on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Raymond James Financial lifted their target price on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Robert W. Baird boosted their price objective 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. Finally, Wells Fargo & Company upped their price target on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $69.14.

UL Solutions Price Performance

Shares of UL Solutions stock traded down $0.06 during trading on Wednesday, hitting $64.57. 974,182 shares of the stock traded hands, compared to its average volume of 788,291. The firm's fifty day moving average is $71.06 and its 200-day moving average is $62.14. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. UL Solutions has a 52 week low of $46.79 and a 52 week high of $74.15. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 38.67 and a beta of 1.00.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The business had revenue of $776.00 million during the quarter, compared to analysts' expectations of $771.55 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The business's quarterly revenue was up 6.3% on a year-over-year basis. Research analysts expect that UL Solutions will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Alberto Uggetti sold 1,961 shares of UL Solutions stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $70.00, for a total value of $137,270.00. Following the completion of the sale, the executive vice president directly owned 9,285 shares in the company, valued at approximately $649,950. This trade represents a 17.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On UL Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Elequin Capital LP bought a new position in shares of UL Solutions during the 1st quarter worth $31,000. Quarry LP purchased a new stake in UL Solutions in the fourth quarter valued at $32,000. Rhumbline Advisers purchased a new stake in UL Solutions during the 1st quarter worth about $49,000. LRI Investments LLC purchased a new stake in UL Solutions during the 2nd quarter worth about $128,000. Finally, Argent Trust Co acquired a new position in shares of UL Solutions during the 1st quarter worth about $208,000.

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.

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