Ultimate Products (LON:ULTP) Shares Up 0.4% – Still a Buy?

Ultimate Products Plc (LON:ULTP) shares shot up 0.4% during trading on Thursday . The stock traded as high as GBX 56.60 and last traded at GBX 55.40. 182,323 shares were traded during trading, a decline of 23% from the average session volume of 236,437 shares. The stock had previously closed at GBX 55.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 80 target price on shares of Ultimate Products in a research report on Tuesday, October 28th. Shore Capital reiterated a “house stock” rating on shares of Ultimate Products in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 80.

Ultimate Products Price Performance

The business has a 50-day moving average of GBX 61.12 and a 200-day moving average of GBX 62.32. The company has a market capitalization of £45.21 million, a P/E ratio of 8.06 and a beta of 1.39.

Ultimate Products (LON:ULTP) last released its earnings results on Tuesday, October 28th. The company reported GBX 6.80 earnings per share (EPS) for the quarter. Ultimate Products had a net margin of 6.77% and a return on equity of 21.95%. Sell-side analysts predict that Ultimate Products Plc will post 14.53125 EPS for the current fiscal year.

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.