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Ultimate Products plc ( (GB:ULTP) ) has issued an update.
Ultimate Products plc announced that its Employee Benefit Trust has purchased 12,519 ordinary shares at a price of 55.5991 pence per share, bringing the total EBT holdings to 2,521,033 shares, which is approximately 2.92% of the company’s issued share capital. This acquisition is part of the company’s strategy to support its employee share incentive schemes, potentially strengthening employee engagement and aligning staff interests with company performance.
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 Neutral.
UP Global Sourcing Holdings has a strong financial foundation and attractive valuation metrics, which are significant positives. However, the bearish technical indicators and recent revenue challenges weigh on the overall score. The company’s strategic initiatives, such as share buybacks and employee share schemes, are positive but need to be balanced against the current market conditions.
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 leading brands such as Salter and Beldray. The company specializes in five product categories: Small Domestic Appliances, Housewares, Laundry, Audio, and Heating and Cooling. It sells to over 300 retailers across 38 countries, catering to both large national and international multi-channel retailers as well as smaller national retail chains. Founded in 1997 and headquartered in Oldham, Greater Manchester, Ultimate Products employs over 370 staff and operates additional offices in Guangzhou, China, and Paris, France.
Average Trading Volume: 449,592
Technical Sentiment Signal: Sell
Current Market Cap: £50.28M
Find detailed analytics on ULTP stock on TipRanks’ Stock Analysis page.