Ultimate Products (LON:ULTP) Earns “Buy” Rating from Canaccord Genuity Group

Ultimate Products (LON:ULTP)‘s stock had its “buy” rating restated by Canaccord Genuity Group in a report released on Thursday,London Stock Exchange reports. They presently have a GBX 80 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 53.85% from the stock’s previous close.

Separately, Shore Capital Group restated a “house stock” rating on shares of Ultimate Products in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 80.

Ultimate Products Stock Performance

Shares of ULTP stock opened at GBX 52 on Thursday. The company has a market capitalization of £43.38 million, a price-to-earnings ratio of 11.56 and a beta of 0.56. The company has a 50-day simple moving average of GBX 45.79 and a 200 day simple moving average of GBX 52.50. Ultimate Products has a 52 week low of GBX 41.80 and a 52 week high of GBX 79.

Ultimate Products (LON:ULTP) last announced its earnings results on Tuesday, March 24th. The company reported GBX 2.70 EPS for the quarter. Ultimate Products had a net margin of 2.69% and a return on equity of 8.41%. Sell-side analysts forecast that Ultimate Products will post 14.53125 EPS for the current year.

About Ultimate Products

Ultimate Products is the owner of a number of leading homeware brands including Salter (the UK’s oldest houseware brand, established in 1760) and Beldray (a laundry, floor care, heating and cooling brand that was established in 1872). According to its market research, nearly 80% of UK households own at least one of the Group’s products.

Ultimate Products sells to over 300 retailers across 38 countries, and specialises in five product categories: Small Domestic Appliances; Housewares; Laundry; Audio; and Heating and Cooling.