Ultrapar Participações (NYSE:UGP) Hits New 12-Month Low – Here’s Why

Ultrapar Participações S.A. (NYSE:UGP) shares hit a new 52-week low on Thursday . The stock traded as low as $2.55 and last traded at $2.57, with a volume of 3230414 shares. The stock had previously closed at $2.75.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.20.

Ultrapar Participações Price Performance

The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 5.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. The company’s fifty day moving average is $3.37 and its two-hundred day moving average is $3.84.

Institutional Investors Weigh In On Ultrapar Participações

A number of large investors have recently modified their holdings of UGP. Acadian Asset Management LLC boosted its holdings in Ultrapar Participações by 8.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock worth $14,713,000 after acquiring an additional 293,036 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Ultrapar Participações by 57.9% in the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after purchasing an additional 898,600 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Ultrapar Participações in the second quarter valued at $5,887,000. Marshall Wace LLP grew its holdings in Ultrapar Participações by 332.6% during the 2nd 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 in the last quarter. Finally, Longfellow Investment Management Co. LLC increased its stake in Ultrapar Participações by 27.3% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock worth $1,726,000 after buying an additional 94,761 shares during the period. Institutional investors and hedge funds 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.