Ultimate Products (LON:ULTP) Shares Up 7.8% – Here’s What Happened

Shares of Ultimate Products Plc (LON:ULTP) traded up 7.8% during trading on Tuesday. The company traded as high as GBX 48.82 and last traded at GBX 48.50. 300,385 shares changed hands during mid-day trading, an increase of 107% from the average session volume of 145,086 shares. The stock had previously closed at GBX 45.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 75 price target on shares of Ultimate Products in a research report on Tuesday. Shore Capital Group reaffirmed a “house stock” rating on shares of Ultimate Products in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 75.

Ultimate Products Price Performance

The business has a 50 day simple moving average of GBX 49.43 and a 200 day simple moving average of GBX 49.43. The company has a market cap of £40.80 million, a price-to-earnings ratio of 10.87 and a beta of 0.60.

Ultimate Products (LON:ULTP) last released its earnings results on Tuesday, October 27th. The company reported GBX 4.30 earnings per share for the quarter. The firm had revenue of £144.91 million for the quarter. Ultimate Products had a return on equity of 8.41% and a net margin of 2.69%. As a group, sell-side analysts anticipate that Ultimate Products Plc will post 14.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultimate Products

In other Ultimate Products news, insider Chris Dent sold 4,875 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of GBX 54, for a total value of £2,632.50. 43.17% of the stock is owned by company insiders.

About Ultimate Products

Ultimate Products is the owner of leading homeware brands including Salter and Beldray. According to its market research, nearly 80% of UK households own at least one of the Group’s products.

The Group sells to over 300 retailers in over 30 countries – spanning discounters, supermarkets and general retailers, and ranging from large national and international multi-channel retailers to smaller retail chains. Its products are also available on salter.com and beldray.com, as well as major third-party online marketplaces.