Ultrapar Participações (NYSE:UGP) Shares Gap Up – Time to Buy?

Shares of Ultrapar Participações S.A. (NYSE:UGP) gapped up prior to trading on Tuesday . The stock had previously closed at $2.58, but opened at $2.77. Ultrapar Participações shares last traded at $2.75, with a volume of 263,474 shares.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on UGP shares. StockNews.com cut Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday. Finally, Scotiabank upgraded shares of Ultrapar Participações to a “hold” rating in a report on Friday, December 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.20.

Ultrapar Participações Trading Down 0.7 %

The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average is $3.06 and its 200-day moving average is $3.68. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 5.91, a P/E/G ratio of 2.21 and a beta of 1.52.

Institutional Trading of Ultrapar Participações

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in shares of Ultrapar Participações by 71.8% during the third quarter. BNP Paribas Financial Markets now owns 67,914 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 28,379 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Ultrapar Participações during the 3rd quarter worth approximately $1,595,000. Creative Planning lifted its position in shares of Ultrapar Participações by 45.2% during the 3rd quarter. Creative Planning now owns 55,980 shares of the oil and gas company’s stock worth $217,000 after buying an additional 17,430 shares in the last quarter. Walleye Capital LLC boosted its stake in shares of Ultrapar Participações by 41.5% in the 3rd quarter. Walleye Capital LLC now owns 36,299 shares of the oil and gas company’s stock worth $141,000 after buying an additional 10,654 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of 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 acquiring an additional 1,099,433 shares in the last quarter. 3.58% of the stock is owned by institutional investors.

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.