Ultra Electronics Holdings plc (ULE) Price Target Cut to GBX 2,000

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Ultra Electronics Holdings plc (LON:ULE) had its target price reduced by equities research analysts at Berenberg Bank from GBX 2,100 ($27.97) to GBX 2,000 ($26.64) in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price objective would indicate a potential upside of 18.34% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Investec reiterated a “buy” rating and issued a GBX 2,000 ($26.64) price objective on shares of Ultra Electronics Holdings plc in a report on Monday, August 1st. Canaccord Genuity decreased their price objective on Ultra Electronics Holdings plc from GBX 2,025 ($26.97) to GBX 1,980 ($26.37) and set a “buy” rating on the stock in a report on Thursday, June 30th. Barclays PLC reiterated an “equal weight” rating and issued a GBX 1,735 ($23.11) price objective on shares of Ultra Electronics Holdings plc in a report on Tuesday, August 2nd. Deutsche Bank AG reiterated a “hold” rating and issued a GBX 1,732 ($23.07) price objective (down previously from GBX 1,835 ($24.44)) on shares of Ultra Electronics Holdings plc in a report on Friday, June 24th. Finally, Liberum Capital reiterated a “hold” rating on shares of Ultra Electronics Holdings plc in a report on Monday, August 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Ultra Electronics Holdings plc has a consensus rating of “Buy” and an average price target of GBX 1,889.74 ($25.17).
Shares of Ultra Electronics Holdings plc (LON:ULE) traded down 0.88% on Tuesday, reaching GBX 1690.00. The company’s stock had a trading volume of 137,294 shares. The company’s 50 day moving average price is GBX 1,711.33 and its 200 day moving average price is GBX 1,746.55. Ultra Electronics Holdings plc has a 12-month low of GBX 1,573.00 and a 12-month high of GBX 2,044.00. The company’s market cap is GBX 1.19 billion.

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The company also recently announced a dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be issued a dividend of GBX 14.20 ($0.19) per share. The ex-dividend date is Thursday, September 1st. This represents a dividend yield of 0.83%.
About Ultra Electronics Holdings plc
Ultra Electronics Holdings plc is a United Kingdom-based company, which manages a portfolio of solutions and products in the defense and aerospace, security and cyber, transport and energy markets, by applying electronic and software technologies. The Company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land.

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