Ultra Electronics (ULE) Given New GBX 1,300 Price Target at Berenberg Bank

Ultra Electronics (LON:ULE) had its price objective reduced by investment analysts at Berenberg Bank from GBX 1,550 ($20.72) to GBX 1,300 ($17.38) in a research report issued on Friday. The brokerage currently has a “sell” rating on the stock. Berenberg Bank’s price objective points to a potential upside of 1.17% from the company’s current price.

A number of other brokerages also recently commented on ULE. Liberum Capital reaffirmed a “buy” rating and issued a GBX 1,800 ($24.07) price objective on shares of Ultra Electronics in a research report on Monday, November 27th. Barclays lowered their price objective on Ultra Electronics from GBX 2,045 ($27.34) to GBX 1,290 ($17.25) and set an “equal weight” rating for the company in a research report on Monday, December 18th. JPMorgan Chase & Co. downgraded Ultra Electronics to a “neutral” rating and lowered their price objective for the company from GBX 2,420 ($32.36) to GBX 1,785 ($23.87) in a research report on Monday, November 13th. Finally, Kepler Capital Markets lowered their price target on Ultra Electronics from GBX 2,300 ($30.75) to GBX 1,600 ($21.39) and set a “buy” rating for the company in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of GBX 1,736.43 ($23.22).

Shares of Ultra Electronics (LON:ULE) opened at GBX 1,285 ($17.18) on Friday. The company has a market capitalization of $1,080.00 and a price-to-earnings ratio of 1,567.07. Ultra Electronics has a 1 year low of GBX 1,138 ($15.22) and a 1 year high of GBX 2,245 ($30.02).

In related news, insider Sir Robert Walmsley acquired 1,000 shares of Ultra Electronics stock in a transaction on Thursday, November 16th. The shares were bought at an average price of GBX 1,196 ($15.99) per share, for a total transaction of £11,960 ($15,991.44). Also, insider K Thomson acquired 804 shares of Ultra Electronics stock in a transaction on Thursday, November 23rd. The shares were bought at an average price of GBX 1,218 ($16.29) per share, for a total transaction of £9,792.72 ($13,093.62). In the last three months, insiders have acquired 10,831 shares of company stock valued at $13,110,885.

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About Ultra Electronics

Ultra Electronics Holdings plc provides 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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