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

Ultimate Products (LON:ULTP)‘s stock had its “buy” rating reissued by Canaccord Genuity Group in a research note issued to investors on Tuesday,Digital Look reports. They currently have a GBX 80 price objective on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 81.00% from the stock’s previous close.

Ultimate Products Price Performance

Shares of ULTP stock opened at GBX 44.20 on Tuesday. Ultimate Products has a 1-year low of GBX 41.80 and a 1-year high of GBX 79. The stock’s fifty day moving average price is GBX 52.32 and its 200 day moving average price is GBX 57.67. The company has a market cap of £36.88 million, a price-to-earnings ratio of 6.60 and a beta of 0.56.

Ultimate Products (LON:ULTP) last announced its earnings results on Tuesday, March 24th. The company reported GBX 2.70 earnings per share (EPS) for the quarter. Ultimate Products had a return on equity of 12.14% and a net margin of 3.87%. As a group, equities research analysts anticipate that Ultimate Products will post 14.53125 earnings per share for the current year.

Insider Activity

In related news, insider Chris Dent acquired 16,677 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of GBX 53 per share, for a total transaction of £8,838.81. 43.27% of the stock is currently owned by company insiders.

Ultimate Products Company Profile

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.