Ultra Electronics (LON:ULE) Shares Cross Above 200 Day Moving Average of $2,056.61

Ultra Electronics Holdings plc (LON:ULE)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2,056.61 and traded as high as $2,192.00. Ultra Electronics shares last traded at $2,140.00, with a volume of 133,267 shares changing hands.

A number of brokerages recently issued reports on ULE. Credit Suisse Group increased their target price on shares of Ultra Electronics from GBX 2,550 ($33.32) to GBX 2,600 ($33.97) and gave the stock an “outperform” rating in a research report on Friday, July 31st. Jefferies Financial Group lifted their target price on shares of Ultra Electronics from GBX 2,000 ($26.13) to GBX 2,100 ($27.44) and gave the company a “hold” rating in a research note on Friday, June 12th. Barclays increased their price target on Ultra Electronics from GBX 1,800 ($23.52) to GBX 2,200 ($28.75) and gave the stock an “equal weight” rating in a research report on Tuesday, September 1st. Berenberg Bank increased their price target on Ultra Electronics from GBX 2,300 ($30.05) to GBX 2,600 ($33.97) and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Peel Hunt restated a “buy” rating on shares of Ultra Electronics in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 2,302.86 ($30.09).

The company has a debt-to-equity ratio of 41.32, a quick ratio of 1.11 and a current ratio of 1.63. The firm has a market capitalization of $1.52 billion and a P/E ratio of 22.36. The stock has a 50-day moving average of GBX 2,337.60 and a 200 day moving average of GBX 2,056.61.

Ultra Electronics (LON:ULE) last released its earnings results on Thursday, July 30th. The company reported GBX 54.70 ($0.71) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of GBX 49.70 ($0.65) by GBX 5 ($0.07). On average, equities analysts predict that Ultra Electronics Holdings plc will post 12028.0228921 EPS for the current year.

The business also recently disclosed a dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 27th will be paid a GBX 54.60 ($0.71) dividend. This is an increase from Ultra Electronics’s previous dividend of $39.20. The ex-dividend date of this dividend is Thursday, August 27th. This represents a yield of 2.28%. Ultra Electronics’s dividend payout ratio is presently 73.15%.

Ultra Electronics Company Profile (LON:ULE)

Ultra Electronics Holdings plc, an electrical and electronics engineering company, provides various solutions and products in the defense and aerospace, security, transport, and energy markets. The company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land.

Further Reading: When can a hold rating present a buying opportunity?

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