JPMorgan Chase & Co. Trims Ultra Electronics (LON:ULE) Target Price to GBX 2,200

Ultra Electronics (LON:ULE) had its price objective reduced by JPMorgan Chase & Co. from GBX 2,300 ($30.05) to GBX 2,200 ($28.75) in a research report released on Thursday morning, Stock Target Advisor reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research firms have also commented on ULE. Barclays raised Ultra Electronics to an equal weight rating and raised their target price for the stock from GBX 1,120 ($14.63) to GBX 2,000 ($26.13) in a report on Monday, September 9th. Jefferies Financial Group lifted their price target on Ultra Electronics from GBX 1,775 ($23.19) to GBX 2,000 ($26.13) and gave the company a hold rating in a research report on Tuesday, October 29th. Credit Suisse Group boosted their price target on Ultra Electronics from GBX 1,900 ($24.83) to GBX 2,250 ($29.40) and gave the company an outperform rating in a report on Friday, August 9th. Peel Hunt restated an add rating on shares of Ultra Electronics in a research report on Friday, September 6th. Finally, Berenberg Bank raised their price objective on shares of Ultra Electronics from GBX 1,750 ($22.87) to GBX 2,200 ($28.75) and gave the stock a hold rating in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of GBX 2,017.75 ($26.37).

Shares of ULE stock opened at GBX 2,024 ($26.45) on Thursday. The stock has a market cap of $1.44 billion and a PE ratio of 30.34. The business has a 50-day simple moving average of GBX 2,035.02 and a 200-day simple moving average of GBX 1,905.26. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 70.99. Ultra Electronics has a 52-week low of GBX 1,200 ($15.68) and a 52-week high of GBX 2,294 ($29.98).

In other news, insider Daniel Shook acquired 2,500 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of GBX 2,009 ($26.25) per share, for a total transaction of £50,225 ($65,627.86).

Ultra Electronics Company Profile

Ultra Electronics Holdings plc, an electrical and electronics engineering company, provides various solutions and products in the defense and aerospace, security, transport, and energy markets. The company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land.

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