Ultimate Products (LON:ULTP) Receives House Stock Rating from Shore Capital

Shore Capital reaffirmed their house stock rating on shares of Ultimate Products (LON:ULTP) in a report published on Tuesday, MarketBeat.com reports.

Separately, Canaccord Genuity Group reissued a “buy” rating and set a GBX 130 ($1.68) price target on shares of Ultimate Products in a research note on Tuesday.

Ultimate Products Trading Up 3.2 %

Shares of ULTP opened at GBX 74.20 ($0.96) on Tuesday. The company’s fifty day simple moving average is GBX 87.12 and its 200-day simple moving average is GBX 113.45. The company has a market cap of £62.97 million, a P/E ratio of 6.09 and a beta of 1.39. Ultimate Products has a twelve month low of GBX 71 ($0.92) and a twelve month high of GBX 185.50 ($2.40).

Ultimate Products (LON:ULTP) last issued its quarterly earnings results on Tuesday, March 25th. The company reported GBX 4.30 ($0.06) EPS for the quarter. Ultimate Products had a net margin of 6.77% and a return on equity of 21.95%. Analysts predict that Ultimate Products will post 14.53125 earnings per share for the current fiscal year.

Ultimate Products Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, May 29th will be paid a GBX 1.55 ($0.02) dividend. This represents a yield of 2.16%. The ex-dividend date of this dividend is Thursday, May 29th. Ultimate Products’s dividend payout ratio (DPR) is 57.44%.

About Ultimate Products

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.