Ultimate Products (LON:ULTP) Stock Price Down 3.1% – Here’s What Happened

Ultimate Products Plc (LON:ULTP)’s share price dropped 3.1% during trading on Thursday . The company traded as low as GBX 47 and last traded at GBX 47.50. Approximately 176,119 shares were traded during trading, an increase of 13% from the average daily volume of 155,827 shares. The stock had previously closed at GBX 49.

Analysts Set New Price Targets

ULTP has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their target price on shares of Ultimate Products from GBX 80 to GBX 75 and set a “buy” rating for the company in a research note on Wednesday, August 19th. Shore Capital Group reiterated a “house stock” rating on shares of Ultimate Products in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Ultimate Products has a consensus rating of “Buy” and an average target price of GBX 75.

Ultimate Products Trading Down 3.1%

The stock’s 50 day moving average price is GBX 52.83 and its two-hundred day moving average price is GBX 48.46. The firm has a market capitalization of £39.63 million, a price-to-earnings ratio of 10.56 and a beta of 0.60.

Insider Transactions at Ultimate Products

In other Ultimate Products news, insider Chris Dent sold 4,875 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of GBX 54, for a total transaction of £2,632.50. Also, insider Simon Showman sold 165,681 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of GBX 46, for a total transaction of £76,213.26. 43.17% of the stock is currently owned by insiders.

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.