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

Veralto (NYSE:VLTO) had its target price lifted by research analysts at Stifel Nicolaus from $92.00 to $97.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 9.23% from the stock’s previous close.

VLTO has been the topic of several other reports. Argus began coverage on Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price on the stock. Royal Bank of Canada increased their target price on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target for the company. Citigroup increased their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, BMO Capital Markets began coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price 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. According to data from MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and an average price target of $93.36.

Veralto Price Performance

Veralto stock opened at $88.80 on Wednesday. The stock has a fifty day moving average price of $87.54 and a two-hundred day moving average price of $79.72. Veralto has a 52-week low of $65.51 and a 52-week high of $92.15. The company has a current ratio of 1.64, a quick ratio of 1.40 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 analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business earned $0.80 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Veralto will post 3.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Mattias Bystrom sold 500 shares of the company’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 completion of the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sugarloaf Wealth Management LLC bought a new stake in Veralto in the fourth quarter valued at approximately $25,000. First Command Advisory Services Inc. acquired a new stake in Veralto during the 4th quarter worth $25,000. Studio Investment Management LLC bought a new position in Veralto during the fourth quarter worth about $25,000. Blue Trust Inc. acquired a new position in Veralto in the fourth quarter valued at about $26,000. Finally, Delta Asset Management LLC TN grew its stake in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after acquiring an additional 216 shares during the period. 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.