Ultimate Products (LON:ULTP) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Ultimate Products (LON:ULTP) in a research note issued to investors on Tuesday morning, Marketbeat reports. Canaccord Genuity Group currently has a GBX 80 target price on the stock.

Ultimate Products Trading Up 1.9%

Shares of ULTP opened at GBX 45.63 on Tuesday. Ultimate Products has a 1-year low of GBX 41.80 and a 1-year high of GBX 79. The firm’s 50-day moving average price is GBX 52.16 and its 200-day moving average price is GBX 57.57. The firm has a market capitalization of £38.07 million, a price-to-earnings ratio of 6.81 and a beta of 0.56.

Ultimate Products (LON:ULTP) last released 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 net margin of 3.87% and a return on equity of 12.14%. On average, research analysts forecast that Ultimate Products will post 14.53125 EPS for the current fiscal year.

Insider Activity

In other news, insider Chris Dent bought 16,677 shares of the stock in a transaction dated Thursday, February 12th. The stock was bought at an average price of GBX 53 per share, for a total transaction of £8,838.81. Corporate insiders own 43.27% 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.