Veralto (NYSE:VLTO) Price Target Raised to $101.00

Veralto (NYSE:VLTO) had its target price increased by equities researchers at BMO Capital Markets from $97.00 to $101.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 8.29% from the company’s previous close.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group assumed coverage on shares of Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. Royal Bank of Canada upped their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective for the company. Finally, BNP Paribas began coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Veralto Trading Up 0.9 %

Shares of NYSE VLTO traded up $0.87 on Thursday, hitting $93.27. The company’s stock had a trading volume of 811,386 shares, compared to its average volume of 1,611,035. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average of $88.23 and a 200-day moving average of $80.13.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that Veralto will post 3.26 EPS for the current year.

Insiders Place Their Bets

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the sale, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Veralto

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sugarloaf Wealth Management LLC bought a new stake in shares of Veralto during the 4th quarter worth about $25,000. First Command Advisory Services Inc. acquired a new position in shares of Veralto in the 4th quarter worth approximately $25,000. Blue Trust Inc. acquired a new position in shares of Veralto in the 4th quarter worth approximately $26,000. Delta Asset Management LLC TN grew its stake in shares of Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after purchasing an additional 216 shares during the last quarter. Finally, Dougherty Wealth Advisers LLC acquired a new position in shares of Veralto in the 4th quarter worth approximately $27,000. 91.28% of the stock is currently owned by institutional investors.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.