Stifel Nicolaus Increases Veralto (NYSE:VLTO) Price Target to $97.00

Veralto (NYSE:VLTO) had its target price boosted by equities researchers at Stifel Nicolaus from $92.00 to $97.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 6.65% from the stock’s current price.

Several other analysts have also issued reports on the stock. Royal Bank of Canada upped their price target on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. BMO Capital Markets began coverage on shares of Veralto in a research report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target for the company. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, BNP Paribas initiated 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.36.

Veralto Stock Up 0.1 %

NYSE:VLTO traded up $0.06 during midday trading on Wednesday, hitting $90.95. The company had a trading volume of 1,500,319 shares, compared to its average volume of 1,510,952. Veralto has a 52-week low of $65.51 and a 52-week high of $92.15. The stock’s fifty day moving average price is $87.23 and its 200-day moving average price is $79.58. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts predict that Veralto will post 3.26 EPS for the current fiscal year.

Insider Buying and Selling

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 completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Veralto

Institutional investors and hedge funds have recently made changes to their positions in the business. Sugarloaf Wealth Management LLC purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $25,000. First Command Advisory Services Inc. bought a new stake in shares of Veralto during the 4th quarter valued at $25,000. Studio Investment Management LLC bought a new stake in shares of Veralto during the 4th quarter valued at $25,000. Blue Trust Inc. purchased a new position in shares of Veralto in the 4th quarter worth $26,000. Finally, 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 buying an additional 216 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

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.