Ultrapar Participações (NYSE:UGP) Shares Gap Up – Still a Buy?

Shares of Ultrapar Participações S.A. (NYSE:UGP) gapped up before the market opened on Tuesday . The stock had previously closed at $2.88, but opened at $2.97. Ultrapar Participações shares last traded at $2.95, with a volume of 31,960 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UGP shares. Hsbc Global Res upgraded shares of Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised Ultrapar Participações from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $4.10 to $3.20 in a research report on Friday, January 31st. HSBC raised Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. raised shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Finally, StockNews.com cut shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ultrapar Participações has a consensus rating of “Moderate Buy” and an average target price of $3.20.

Ultrapar Participações Stock Performance

The business has a 50-day moving average of $2.76 and a 200 day moving average of $3.45. 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 $3.19 billion, a PE ratio of 6.22, a PEG ratio of 2.52 and a beta of 1.52.

Institutional Investors Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently made changes to their positions in UGP. Franklin Resources Inc. bought a new stake in Ultrapar Participações during the fourth quarter valued at approximately $31,000. Sequoia Financial Advisors LLC purchased a new position in shares of Ultrapar Participações during the 3rd quarter worth $46,000. Freedom Investment Management Inc. bought a new stake in shares of Ultrapar Participações during the 3rd quarter valued at $48,000. Signaturefd LLC increased its stake 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 worth $62,000 after purchasing an additional 6,476 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Ultrapar Participações by 38.1% in the 4th quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 5,687 shares in the last quarter. Hedge funds and other institutional investors own 3.58% of the company’s stock.

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.