Ultimate Products (LON:ULTP) Shares Down 1.6% - Here's Why

Key Points

• Ultimate Products Plc shares dropped by 1.6% on the latest trading day, reaching a price of GBX 61.20 ($0.82), with trading volume significantly down by 78% from the average session.
• Analysts at Shore Capital have reaffirmed a "house stock" rating for Ultimate Products, which currently holds an average "Buy" rating with a consensus price target of GBX 105.
• Insider Chris Dent bought 1,992 shares at GBX 50 each, indicating a strong belief in the company's prospects as insiders own 43.05% of the stock.

Ultimate Products Plc (LON:ULTP - Get Free Report) shares traded down 1.6% on Friday . The company traded as low as GBX 61 ($0.82) and last traded at GBX 61.20 ($0.82). 62,210 shares changed hands during trading, a decline of 78% from the average session volume of 278,804 shares. The stock had previously closed at GBX 62.20 ($0.84).

Analysts Set New Price Targets

Separately, Shore Capital restated a "house stock" rating on shares of Ultimate Products in a report on Thursday, August 28th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of GBX 105.

Ultimate Products Stock Down 1.6%

The stock has a market capitalization of £51.31 million, a price-to-earnings ratio of 755.56 and a beta of 1.39. The business's 50 day simple moving average is GBX 60.59 and its 200-day simple moving average is GBX 66.09.

Insider Activity at Ultimate Products

In related news, insider Chris Dent acquired 1,992 shares of the stock in a transaction dated Wednesday, June 25th. The stock was purchased at an average cost of GBX 50 per share, with a total value of £996. 43.05% of the stock is currently owned by company insiders.

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.