Canaccord Genuity Group Reaffirms Buy Rating for Ultimate Products (LON:ULTP)

Ultimate Products (LON:ULTP)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group in a report issued on Tuesday, MarketBeat.com reports. They currently have a GBX 80 price target on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 73.54% from the stock’s current price.

Ultimate Products Stock Up 0.2%

Shares of ULTP opened at GBX 46.10 on Tuesday. The firm’s fifty day moving average is GBX 52.01 and its two-hundred day moving average is GBX 57.49. The stock has a market cap of £38.46 million, a PE ratio of 6.88 and a beta of 0.56. Ultimate Products has a 52-week low of GBX 41.80 and a 52-week high of GBX 79.

Ultimate Products (LON:ULTP) last announced its quarterly earnings results on Tuesday, March 24th. The company reported GBX 2.70 earnings per share for the quarter. Ultimate Products had a net margin of 3.87% and a return on equity of 12.14%. As a group, research analysts anticipate that Ultimate Products will post 14.53125 earnings per share for the current year.

Insider Activity

In other Ultimate Products news, insider Chris Dent sold 9,749 shares of Ultimate Products stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of GBX 53, for a total transaction of £5,166.97. 43.27% of the stock is currently owned by company insiders.

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.