Canaccord Genuity Group Issues Pessimistic Forecast for Ultimate Products (LON:ULTP) Stock Price

Ultimate Products (LON:ULTP) had its target price dropped by equities research analysts at Canaccord Genuity Group from GBX 80 to GBX 75 in a note issued to investors on Wednesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 40.83% from the stock’s current price.

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Ultimate Products in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 75.

Ultimate Products Stock Performance

LON:ULTP opened at GBX 53.26 on Wednesday. The company’s 50-day simple moving average is GBX 50.19 and its 200-day simple moving average is GBX 48.94. Ultimate Products has a fifty-two week low of GBX 40.30 and a fifty-two week high of GBX 67.80. The stock has a market capitalization of £44.43 million, a P/E ratio of 11.83 and a beta of 0.59.

Insider Buying and Selling at Ultimate Products

In other Ultimate Products 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 the firm’s 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. Company insiders own 43.17% of the company’s stock.

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.