The latest announcement is out from UP Global Sourcing Holdings ( (GB:ULTP) ).
Ultimate Products PLC has announced the purchase and cancellation of 12,600 ordinary shares as part of its ongoing share buyback program. This transaction, executed through Shore Capital Stockbrokers Limited, reflects the company’s strategic effort to manage its share capital and potentially enhance shareholder value. Following this purchase, the company’s issued share capital now consists of 87,004,592 ordinary shares, which impacts the total voting rights and may influence shareholder calculations under FCA regulations.
Spark’s Take on GB:ULTP Stock
According to Spark, TipRanks’ AI Analyst, GB:ULTP is a Outperform.
UP Global Sourcing Holdings has a robust financial standing with consistent profitability and cash flow generation. The attractive valuation, with a low P/E ratio and high dividend yield, enhances its appeal to investors. However, the bearish technical indicators and volatile revenue growth dampen the outlook slightly. The share buyback program provides an additional positive impact on shareholder value.
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 small domestic appliances, housewares, laundry, audio, and heating and cooling products. It serves over 300 retailers across 38 countries, including large national and international retailers as well as smaller 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.
YTD Price Performance: -43.83%
Average Trading Volume: 186,503
Technical Sentiment Signal: Strong Buy
Current Market Cap: £54.42M
See more insights into ULTP stock on TipRanks’ Stock Analysis page.