Ultimate Products (LON:ULTP) Stock Rating Reaffirmed as Buy by Canaccord Genuity Group

Ultimate Products (LON:ULTP)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity Group in a report released on Tuesday, Digital Look reports. They currently have a GBX 75 target price on the stock. Canaccord Genuity Group‘s price objective would indicate a potential upside of 56.58% from the company’s current price.

Separately, Shore Capital Group reissued a “house stock” rating on shares of Ultimate Products in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, Ultimate Products has an average rating of “Buy” and an average target price of GBX 75.

Ultimate Products Stock Up 6.4%

LON ULTP opened at GBX 47.90 on Tuesday. The stock has a market capitalization of £39.96 million, a P/E ratio of 10.64 and a beta of 0.60. Ultimate Products has a 52-week low of GBX 40.30 and a 52-week high of GBX 65. The firm has a 50-day moving average price of GBX 49.43 and a 200 day moving average price of GBX 49.43.

Ultimate Products (LON:ULTP) last issued its earnings results on Tuesday, October 27th. The company reported GBX 4.30 EPS for the quarter. Ultimate Products had a net margin of 2.69% and a return on equity of 8.41%. The company had revenue of £144.91 million for the quarter. On average, equities research analysts expect that Ultimate Products will post 14.53 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Chris Dent sold 4,875 shares of Ultimate Products 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. Company insiders own 43.17% of the company’s stock.

Ultimate Products Company Profile

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.