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

Shares of Ultimate Products Plc (LON:ULTP) dropped 3.1% during mid-day trading on Thursday . The stock traded as low as GBX 47 and last traded at GBX 47.50. 176,119 shares traded hands during trading, an increase of 13% from the average daily volume of 155,827 shares. The stock had previously closed at GBX 49.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Shore Capital Group reissued a “house stock” rating on shares of Ultimate Products in a report on Wednesday, August 19th. Canaccord Genuity Group cut their price target on Ultimate Products from GBX 80 to GBX 75 and set a “buy” rating for the company in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 75.

Ultimate Products Price Performance

The firm’s 50-day moving average price is GBX 52.83 and its 200 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 Buying and Selling

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