Ultimate Products (LON:ULTP) Stock Price Down 1% – Here’s Why

Ultimate Products Plc (LON:ULTP) dropped 1% on Wednesday . The company traded as low as GBX 55.20 and last traded at GBX 56.25. 40,673 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 173,990 shares. The stock had previously closed at GBX 56.80.

Analyst Ratings Changes

Several research analysts have commented on ULTP shares. Shore Capital Group reaffirmed a “house stock” rating on shares of Ultimate Products in a report on Wednesday, July 8th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 80 price target on shares of Ultimate Products in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 80.

Ultimate Products Stock Down 0.5%

The firm has a market cap of £46.22 million, a P/E ratio of 12.31 and a beta of 0.59. The business’s 50 day moving average is GBX 48.01 and its two-hundred day moving average is GBX 48.90.

Insider Activity

In related news, insider Simon Showman sold 165,681 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of GBX 46, for a total transaction of £76,213.26. Also, insider Chris Dent bought 23,923 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of GBX 52 per share, with a total value of £12,439.96. Company insiders own 43.30% of the company’s stock.

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.