StockNews.com Downgrades Ultrapar Participações (NYSE:UGP) to Hold

StockNews.com cut shares of Ultrapar Participações (NYSE:UGP) from a buy rating to a hold rating in a research report report published on Wednesday.

Other analysts also recently issued research reports about the stock. Hsbc Global Res raised shares of Ultrapar Participações from a “strong sell” rating to a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group cut their price objective on Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Finally, HSBC upgraded Ultrapar Participações from a “reduce” rating to a “hold” rating in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.20.

Ultrapar Participações Trading Up 0.9 %

NYSE:UGP opened at $3.40 on Wednesday. Ultrapar Participações has a 52-week low of $3.36 and a 52-week high of $6.34. The company has a quick ratio of 1.16, a current ratio of 1.55 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $3.79 and a 200-day simple moving average of $4.13. The company has a market capitalization of $3.79 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 2.82 and a beta of 1.61.

Hedge Funds Weigh In On Ultrapar Participações

Several institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in Ultrapar Participações by 175.6% in the 1st quarter. Acadian Asset Management LLC now owns 3,471,048 shares of the oil and gas company’s stock valued at $19,850,000 after acquiring an additional 2,211,696 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Ultrapar Participações in the second quarter valued at $5,887,000. Marshall Wace LLP increased its stake in Ultrapar Participações by 332.6% in the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock valued at $5,591,000 after purchasing an additional 1,099,433 shares during the last quarter. Renaissance Technologies LLC lifted its position in Ultrapar Participações by 57.9% during the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock worth $9,581,000 after buying an additional 898,600 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Ultrapar Participações in the 3rd quarter worth about $1,595,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

About Ultrapar Participações

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.