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Ultimate Products plc ( (GB:ULTP) ) has issued an announcement.
Ultimate Products plc announced the purchase and cancellation of 10,200 ordinary shares as part of its ongoing share buyback program, initially announced in May 2024. This transaction, executed through Shore Capital Stockbrokers Limited, reflects the company’s strategic efforts to manage its share capital, impacting its total voting rights, which now consist of 86,472,822 ordinary shares. This move is likely to influence shareholder calculations regarding their interests in the company, aligning with the Disclosure Guidance and Transparency Rules of the FCA.
The most recent analyst rating on (GB:ULTP) stock is a Buy with a £80.00 price target. To see the full list of analyst forecasts on Ultimate Products plc stock, see the GB:ULTP Stock Forecast page.
Spark’s Take on GB:ULTP Stock
According to Spark, TipRanks’ AI Analyst, GB:ULTP is a Outperform.
The stock’s strong financial performance and attractive valuation are the key strengths, providing a solid foundation. However, technical indicators show bearish momentum, which could pose short-term risks. The positive impact of corporate actions, such as share buybacks, boosts confidence in long-term value creation.
To see Spark’s full report on GB:ULTP stock, click here.
More about Ultimate Products plc
Ultimate Products plc is a prominent player in the homeware industry, owning several leading brands such as Salter and Beldray. The company specializes in five product categories: Small Domestic Appliances, Housewares, Laundry, Audio, and Heating and Cooling. With a presence in over 38 countries, Ultimate Products caters to a wide range of retailers, from large international chains to smaller national stores. Founded in 1997 and headquartered in Oldham, Greater Manchester, the company employs over 370 staff and operates additional offices in Guangzhou, China, and Paris, France.
Average Trading Volume: 487,523
Technical Sentiment Signal: Sell
Current Market Cap: £51.21M
See more data about ULTP stock on TipRanks’ Stock Analysis page.