Ultimate Products (LON:ULTP) Trading Up 7% – Still a Buy?

Ultimate Products Plc (LON:ULTP)’s stock price shot up 7% during mid-day trading on Monday . The stock traded as high as GBX 57.80 and last traded at GBX 57.80. 108,803 shares were traded during mid-day trading, a decline of 36% from the average session volume of 169,014 shares. The stock had previously closed at GBX 54.

Analyst Upgrades and Downgrades

ULTP has been the topic of a number of research reports. Shore Capital reaffirmed a “house stock” rating on shares of Ultimate Products in a research report on Tuesday, October 28th. Canaccord Genuity Group restated a “buy” rating and set a GBX 80 price objective on shares of Ultimate Products in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of GBX 80.

Ultimate Products Price Performance

The firm has a market cap of £48.39 million, a P/E ratio of 8.63 and a beta of 1.39. The company has a fifty day moving average of GBX 57.07 and a 200-day moving average of GBX 59.91.

Ultimate Products Company Profile

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.