Ultrapar Participações (NYSE:UGP) Shares Gap Up – Should You Buy?

Ultrapar Participações S.A. (NYSE:UGP) shares gapped up before the market opened on Monday . The stock had previously closed at $2.75, but opened at $2.84. Ultrapar Participações shares last traded at $2.83, with a volume of 88,818 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UGP. The Goldman Sachs Group reduced their price target on shares of Ultrapar Participações from $4.80 to $4.10 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. StockNews.com downgraded shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. HSBC raised shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Hsbc Global Res raised Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.10.

Ultrapar Participações Stock Performance

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11. The company has a market cap of $3.14 billion, a PE ratio of 6.12, a price-to-earnings-growth ratio of 2.47 and a beta of 1.52. The business has a fifty day simple moving average of $2.82 and a two-hundred day simple moving average of $3.56.

Hedge Funds Weigh In On Ultrapar Participações

Institutional investors and hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in Ultrapar Participações during the 3rd quarter worth approximately $46,000. Freedom Investment Management Inc. purchased a new stake in shares of Ultrapar Participações during the third quarter valued at $48,000. Signaturefd LLC increased its position in shares of Ultrapar Participações by 67.9% in the 3rd quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 6,476 shares during the period. PDS Planning Inc raised its stake in Ultrapar Participações by 90.2% in the 3rd quarter. PDS Planning Inc now owns 21,408 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 10,153 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Ultrapar Participações by 109.2% during the 3rd quarter. Blue Trust Inc. now owns 33,124 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 17,291 shares during the period. 3.58% of the stock is owned by hedge funds and other institutional investors.

Ultrapar Participações Company Profile

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.