Ultimate Products’ (ULTP) “House Stock” Rating Reiterated at Shore Capital

Shore Capital reaffirmed their house stock rating on shares of Ultimate Products (LON:ULTP) in a research report sent to investors on Tuesday morning, MarketBeat reports.

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

Ultimate Products Stock Performance

ULTP opened at GBX 74.20 ($0.96) on Tuesday. The stock has a market capitalization of £62.97 million, a price-to-earnings ratio of 6.09 and a beta of 1.39. The company has a fifty day moving average of GBX 87.12 and a 200 day moving average of GBX 113.45. Ultimate Products has a fifty-two week low of GBX 71 ($0.92) and a fifty-two week high of GBX 185.50 ($2.40).

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

Ultimate Products Cuts Dividend

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