Ultimate Products (LON:ULTP) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Ultimate Products Plc (LON:ULTP)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 49.31 and traded as high as GBX 49.90. Ultimate Products shares last traded at GBX 49.90, with a volume of 88,866 shares changing hands.

Wall Street Analysts Forecast Growth

ULTP has been the subject of several research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 75 target price on shares of Ultimate Products in a research report on Tuesday. Shore Capital Group reissued a “house stock” rating on shares of Ultimate Products in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, Ultimate Products has an average rating of “Buy” and a consensus price target of GBX 75.

Ultimate Products Price Performance

The business’s 50-day simple moving average is GBX 48.85 and its two-hundred day simple moving average is GBX 49.31. The stock has a market capitalization of £41.63 million, a price-to-earnings ratio of 11.09 and a beta of 0.60.

Ultimate Products (LON:ULTP) last issued its earnings results on Tuesday, October 27th. The company reported GBX 4.30 earnings per share for the quarter. Ultimate Products had a return on equity of 7.63% and a net margin of 2.50%. The company had revenue of £144.91 million during the quarter. As a group, sell-side analysts expect that Ultimate Products Plc will post 14.53 EPS for the current year.

Insider Buying and Selling at Ultimate Products

In other news, insider Chris Dent sold 4,875 shares of Ultimate Products stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of GBX 54, for a total transaction of £2,632.50. 43.17% of the stock is owned by corporate 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.