Ultimate Products PLC Executes Share Buyback, Cancelling 6,900 Shares

UP Global Sourcing Holdings ( (GB:ULTP) ) just unveiled an update.

Ultimate Products PLC has announced the purchase and cancellation of 6,900 ordinary shares as part of its ongoing share buyback program. This move, executed through Shore Capital Stockbrokers Limited, reduces the company’s total issued share capital to 86,657,202 ordinary shares. The buyback is part of a strategic effort to manage the company’s capital structure and potentially enhance shareholder value.

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 achieves a strong overall stock score of 82. The most significant factors are the attractive valuation with a low P/E ratio and high dividend yield, alongside positive technical indicators. The strategic corporate events, including the share buyback program, further enhance the company’s appeal by boosting shareholder value and optimizing its capital structure. While financial performance is solid, inconsistent revenue growth presents a minor risk.

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

More about UP Global Sourcing Holdings

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. With a presence in over 38 countries, Ultimate Products serves a wide range of retailers, from large multi-channel retailers to smaller national chains. 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: 268,773

Technical Sentiment Signal: Sell

Current Market Cap: £62.6M

Learn more about ULTP stock on TipRanks’ Stock Analysis page.