UL Solutions (NYSE:ULS) Stock Rating Upgraded by Zacks Research

UL Solutions (NYSE:ULS) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the company. Weiss Ratings restated a “buy (b)” rating on shares of UL Solutions in a research note on Monday. Baird R W upgraded shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $84.00 target price (up from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. The Goldman Sachs Group raised their price target on shares of UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, UBS Group boosted their price objective on shares of UL Solutions from $75.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.14.

UL Solutions Trading Up 2.3%

Shares of NYSE:ULS opened at $80.71 on Wednesday. UL Solutions has a 1 year low of $48.54 and a 1 year high of $91.95. The firm has a fifty day moving average price of $82.32 and a 200 day moving average price of $74.16. The stock has a market capitalization of $16.21 billion, a PE ratio of 48.33 and a beta of 1.09. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45.

UL Solutions (NYSE:ULS) last released its earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. UL Solutions had a net margin of 11.29% and a return on equity of 34.49%. The firm had revenue of $783.00 million during the quarter, compared to analyst estimates of $769.01 million. During the same quarter in the previous year, the business earned $0.49 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Analysts expect that UL Solutions will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On UL Solutions

Institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its holdings in shares of UL Solutions by 48.4% in the second quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after buying an additional 171 shares during the period. Assetmark Inc. acquired a new position in UL Solutions in the 3rd quarter worth $40,000. Northwestern Mutual Wealth Management Co. increased its holdings in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after purchasing an additional 614 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the 1st quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of UL Solutions by 28.2% in the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock valued at $53,000 after purchasing an additional 161 shares in the last quarter.

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.