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

Ultimate Products Plc (LON:ULTP) shares were up 13% on Monday . The stock traded as high as GBX 46 and last traded at GBX 46. Approximately 308,561 shares traded 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ULTP shares. Shore Capital Group reaffirmed a “house stock” rating on shares of Ultimate Products in a research note on Tuesday, May 26th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 80 target price on shares of Ultimate Products in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 80.

Ultimate Products Price Performance

The company has a market cap of £38.38 million, a PE ratio of 10.22 and a beta of 0.57. The company has a 50-day moving average of GBX 45.88 and a 200 day moving average of GBX 51.09.

Ultimate Products (LON:ULTP) last released its quarterly earnings results on Tuesday, March 24th. The company reported GBX 2.70 EPS for the quarter. Ultimate Products had a return on equity of 8.41% and a net margin of 2.69%. Equities research analysts expect that Ultimate Products Plc will post 14.53125 EPS for the current year.

Insider Buying and Selling

In related news, insider Chris Dent purchased 23,923 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was bought at an average price of GBX 52 per share, for a total transaction of £12,439.96. Corporate insiders own 43.30% of the company’s stock.

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.