Ultimate Products Enhances Shareholder Value with Share Buyback

UP Global Sourcing Holdings ( (GB:ULTP) ) has shared an announcement.

Ultimate Products has announced the purchase and cancellation of 6,750 ordinary shares as part of its ongoing share buyback program, which was initiated in May 2024. This transaction is expected to impact the company’s issued share capital, reducing it to 86,615,767 ordinary shares, thereby affecting the total voting rights. This move is part of the company’s strategy to manage its share capital effectively, potentially enhancing shareholder value and aligning with market regulations.

The most recent analyst rating on (GB:ULTP) stock is a Buy with a £182.00 price target. To see the full list of analyst forecasts on UP Global Sourcing Holdings 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.

UP Global Sourcing Holdings is well-positioned with strong financial performance and appealing valuation metrics. The positive momentum in technical indicators and a strategic share buyback program further enhance its attractiveness. Volatile revenue growth is a minor concern, but the company’s strong profitability and cash flow generation provide a solid foundation.

To see Spark’s full report on GB:ULTP stock, click here.

More about UP Global Sourcing Holdings

Ultimate Products 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. It sells to over 300 retailers across 38 countries, serving a diverse range of large and small retailers, including discount and online retailers. 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: 282,491

Technical Sentiment Signal: Sell

Current Market Cap: £64.42M

For an in-depth examination of ULTP stock, go to TipRanks’ Overview page.