Ultimate Products (LON:ULTP) Receives Buy Rating from Canaccord Genuity Group

Ultimate Products (LON:ULTP)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity Group in a report released on Tuesday,Digital Look reports. They presently have a GBX 80 target price on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 81.00% from the company’s current price.

Ultimate Products Stock Down 1.3%

Shares of LON:ULTP opened at GBX 44.20 on Tuesday. The firm has a 50 day moving average of GBX 52.32 and a 200 day moving average of GBX 57.67. The company has a market capitalization of £36.88 million, a price-to-earnings ratio of 6.60 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 (EPS) for the quarter. Ultimate Products had a return on equity of 12.14% and a net margin of 3.87%. On average, sell-side analysts expect that Ultimate Products will post 14.53125 EPS for the current year.

Insider Activity

In other news, insider Chris Dent acquired 16,677 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of GBX 53 per share, with a total value of £8,838.81. 43.27% of the stock is currently owned by 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.