Ultimate Products (LON:ULTP) Price Target Cut to GBX 75 by Analysts at Canaccord Genuity Group

Ultimate Products (LON:ULTP) had its target price dropped by Canaccord Genuity Group from GBX 80 to GBX 75 in a report issued on Wednesday,Digital Look reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 40.83% from the stock’s current price.

Separately, Shore Capital Group restated a “house stock” rating on shares of Ultimate Products in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 75.

Ultimate Products Stock Down 4.6%

ULTP stock opened at GBX 53.26 on Wednesday. Ultimate Products has a 52-week low of GBX 40.30 and a 52-week high of GBX 67.80. The stock has a market cap of £44.43 million, a price-to-earnings ratio of 11.83 and a beta of 0.59. The business has a fifty day moving average of GBX 50.19 and a two-hundred day moving average of GBX 48.94.

Insider Activity

In other Ultimate Products news, insider Chris Dent purchased 23,923 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of GBX 52 per share, for a total transaction of £12,439.96. Also, insider Simon Showman sold 165,681 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of GBX 46, for a total transaction of £76,213.26. 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.