Ultimate Products (LON:ULTP) Stock Price Up 13% – Still a Buy?

Shares of Ultimate Products Plc (LON:ULTP) rose 13% during trading on Monday . The stock traded as high as GBX 46 and last traded at GBX 46. Approximately 308,561 shares changed hands during trading, an increase of 66% from the average daily volume of 185,576 shares. The stock had previously closed at GBX 40.70.

Analyst Ratings Changes

ULTP has been the topic of several recent analyst reports. Shore Capital Group reissued a “house stock” rating on shares of Ultimate Products in a research report on Tuesday, May 26th. Canaccord Genuity Group reissued a “buy” rating and set a GBX 80 price objective on shares of Ultimate Products in a research report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Ultimate Products presently has an average rating of “Buy” and a consensus price target of GBX 80.

Ultimate Products Stock Performance

The business’s fifty day moving average price is GBX 45.88 and its 200-day moving average price is GBX 50.85. The stock has a market cap of £37.04 million, a PE ratio of 9.87 and a beta of 0.57.

Ultimate Products (LON:ULTP) last announced 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 2.69% and a return on equity of 8.41%. Analysts forecast that Ultimate Products Plc will post 14.53125 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Chris Dent purchased 23,923 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of GBX 52 per share, with a total value of £12,439.96. 43.30% of the stock is currently owned by insiders.

About Ultimate Products

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.