Royal Bank of Canada Issues Pessimistic Forecast for Veralto (NYSE:VLTO) Stock Price

Veralto (NYSE:VLTO) had its price target dropped by investment analysts at Royal Bank of Canada from $111.00 to $110.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 11.26% from the stock’s current price.

VLTO has been the topic of a number of other reports. Stifel Nicolaus reduced their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup cut their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Jefferies Financial Group began coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $112.55.

Veralto Stock Up 0.4 %

Shares of NYSE:VLTO opened at $98.87 on Thursday. The firm has a market cap of $24.45 billion, a P/E ratio of 30.52, a P/E/G ratio of 4.35 and a beta of 1.06. Veralto has a 12-month low of $81.23 and a 12-month high of $115.00. The business has a fifty day simple moving average of $103.10 and a 200 day simple moving average of $106.25. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Analysts predict that Veralto will post 3.48 earnings per share for the current year.

Institutional Investors Weigh In On Veralto

Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the third quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in Veralto during the 4th quarter valued at $26,000. BankPlus Trust Department acquired a new position in Veralto during the fourth quarter worth $29,000. Raleigh Capital Management Inc. lifted its stake in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares in the last quarter. Finally, Albion Financial Group UT grew its holdings in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares during the last quarter. Institutional investors and hedge funds 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.