Citigroup Issues Pessimistic Forecast for UL Solutions (NYSE:ULS) Stock Price

UL Solutions (NYSE:ULS) had its target price decreased by Citigroup from $88.10 to $87.80 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 10.70% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on ULS. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research note on Friday. Weiss Ratings lowered UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Wells Fargo & Company lifted their price objective on shares of UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of UL Solutions from $84.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday. Finally, UBS Group lifted their price target on shares of UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, UL Solutions currently has an average rating of “Hold” and a consensus target price of $87.60.

UL Solutions Price Performance

Shares of ULS traded up $1.03 during trading hours on Tuesday, reaching $79.31. 249,217 shares of the stock traded hands, compared to its average volume of 1,149,912. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. UL Solutions has a 52-week low of $49.34 and a 52-week high of $91.95. The company’s 50-day moving average price is $76.08 and its two-hundred day moving average price is $75.26. The company has a market cap of $15.93 billion, a P/E ratio of 49.92, a price-to-earnings-growth ratio of 4.45 and a beta of 1.12.

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

Institutional Trading of UL Solutions

Several hedge funds have recently added to or reduced their stakes in ULS. Royal Bank of Canada increased its holdings in shares of UL Solutions by 119.5% during the 1st 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 period. Goldman Sachs Group Inc. increased its stake in UL Solutions by 104.3% during 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in UL Solutions by 11.9% in 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 in the last quarter. Rhumbline Advisers bought a new stake in shares of UL Solutions in the 1st quarter worth approximately $49,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of UL Solutions during the 2nd quarter worth approximately $1,933,000.

UL Solutions Company Profile

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.