Canaccord Genuity Group Cuts Ultimate Products (LON:ULTP) Price Target to GBX 75

Ultimate Products (LON:ULTP – Free Report) had its target price reduced by Canaccord Genuity Group from GBX 80 to GBX 75 in a research report sent to investors on Wednesday morning,Digital Look reports. They currently have a buy rating on the stock.

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Ultimate Products in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 75.

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Ultimate Products Stock Performance

LON ULTP opened at GBX 53 on Wednesday. The company has a market cap of £44.22 million, a P/E ratio of 11.78 and a beta of 0.60. The business’s 50 day moving average price is GBX 50.82 and its 200-day moving average price is GBX 48.95. Ultimate Products has a fifty-two week low of GBX 40.30 and a fifty-two week high of GBX 67.80.

Insiders Place Their Bets

In other news, insider Simon Showman sold 165,681 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of GBX 46, for a total value of £76,213.26. Also, insider Chris Dent purchased 23,923 shares of Ultimate Products stock in a transaction that occurred on Thursday, May 28th. The stock was bought at an average cost of GBX 52 per share, for a total transaction of £12,439.96. 43.17% of the stock is currently owned by insiders.

Ultimate Products Company Profile

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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.

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