Robert W. Baird Increases Veralto (NYSE:VLTO) Price Target to $98.00

Veralto (NYSE:VLTO) had its price target raised by research analysts at Robert W. Baird from $90.00 to $98.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 6.06% from the stock’s previous close.

A number of other research firms also recently commented on VLTO. The Goldman Sachs Group initiated coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. Argus initiated coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price on the stock. Citigroup boosted their target price 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, Stifel Nicolaus boosted their target price on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.82.

Veralto Stock Down 1.4 %

Veralto stock opened at $92.40 on Thursday. The firm has a 50-day moving average price of $88.23 and a two-hundred day moving average price of $80.13. Veralto has a 52-week low of $65.51 and a 52-week high of $95.40. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

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

Insider Activity

In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Institutional Trading of Veralto

Several large investors have recently made changes to their positions in VLTO. Neville Rodie & Shaw Inc. acquired a new stake in shares of Veralto during the 4th quarter worth approximately $1,732,000. Anchor Investment Management LLC acquired a new stake in shares of Veralto during the 4th quarter worth approximately $117,000. Park National Corp OH acquired a new stake in shares of Veralto during the 4th quarter worth approximately $1,243,000. M&R Capital Management Inc. bought a new position in Veralto in the 4th quarter valued at approximately $70,000. Finally, Massmutual Trust Co. FSB ADV bought a new position in Veralto in the 4th quarter valued at approximately $285,000. 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.