Ultimate Products (LON:ULTP) Earns Buy Rating from Shore Capital

Ultimate Products (LON:ULTP)‘s stock had its “buy” rating restated by equities researchers at Shore Capital in a report released on Wednesday, MarketBeat.com reports. They currently have a GBX 80 ($1.08) target price on the stock. Shore Capital’s price objective indicates a potential upside of 45.45% from the company’s current price.

Ultimate Products Price Performance

LON ULTP opened at GBX 55 ($0.74) on Wednesday. The firm has a market capitalization of £46.67 million, a P/E ratio of 4.51 and a beta of 1.39. Ultimate Products has a 1-year low of GBX 43.80 ($0.59) and a 1-year high of GBX 149.50 ($2.02). The business’s 50-day simple moving average is GBX 62.45 and its 200-day simple moving average is GBX 70.82.

Insider Activity at Ultimate Products

In related news, insider Chris Dent bought 1,992 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The shares were acquired at an average cost of GBX 50 ($0.68) per share, for a total transaction of £996 ($1,347.58). Insiders own 56.58% of the company’s stock.

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.