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

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

VLTO has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. Stifel Nicolaus upped their price target on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Argus initiated coverage on Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. Royal Bank of Canada upped their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Finally, Robert W. Baird upped their price target on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Price Performance

Veralto stock traded up $0.87 during trading on Thursday, hitting $93.27. 811,386 shares of the company were exchanged, compared to its average volume of 1,611,035. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The business’s 50 day moving average is $88.23 and its 200 day moving average is $80.13. Veralto has a 52 week low of $65.51 and a 52 week high of $95.40.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The business’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts expect that Veralto will post 3.26 EPS for the current year.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

Institutional investors have recently modified their holdings of the company. Sugarloaf Wealth Management LLC bought a new position in shares of Veralto during the 4th quarter valued at about $25,000. First Command Advisory Services Inc. bought a new position in shares of Veralto during the 4th quarter valued at about $25,000. Blue Trust Inc. bought a new position in shares of Veralto during the 4th quarter valued at about $26,000. Delta Asset Management LLC TN increased its position in shares of Veralto by 216.0% during the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares during the last quarter. Finally, Dougherty Wealth Advisers LLC bought a new position in shares of Veralto during the 4th quarter valued at about $27,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Company Profile

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.