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The latest announcement is out from Ultimate Products plc ( (GB:ULTP) ).
Ultimate Products plc has announced the purchase and cancellation of 10,160 ordinary shares as part of its ongoing share buyback program. This move will reduce the company’s issued share capital to 86,462,662 ordinary shares, impacting the total voting rights and potentially affecting shareholder interests. The buyback is part of the company’s strategy to manage its capital structure and enhance shareholder value.
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 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 serves over 300 retailers across 38 countries, including both large national and international multi-channel retailers as well as smaller national retail chains. Founded in 1997, the company is headquartered in Oldham, Greater Manchester, and employs over 370 staff.
Average Trading Volume: 496,020
Technical Sentiment Signal: Sell
Current Market Cap: £51.21M
For a thorough assessment of ULTP stock, go to TipRanks’ Stock Analysis page.