Ultrapar Participações (NYSE:UGP) Upgraded by The Goldman Sachs Group to “Buy” Rating

Ultrapar Participações (NYSE:UGP) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Friday,Briefing.com Automated Import reports. The firm currently has a $3.20 price objective on the oil and gas company’s stock, down from their prior price objective of $4.10. The Goldman Sachs Group’s target price suggests a potential upside of 9.40% from the company’s previous close.

Several other research firms have also weighed in on UGP. Hsbc Global Res raised Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. upgraded Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. HSBC upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, January 17th. StockNews.com lowered shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ultrapar Participações currently has an average rating of “Moderate Buy” and an average price target of $3.20.

Ultrapar Participações Stock Up 3.4 %

Shares of NYSE:UGP opened at $2.93 on Friday. The firm has a 50 day simple moving average of $2.79 and a 200 day simple moving average of $3.53. Ultrapar Participações has a 52 week low of $2.53 and a 52 week high of $6.34. 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 has a market cap of $3.26 billion, a PE ratio of 6.36, a price-to-earnings-growth ratio of 2.50 and a beta of 1.52.

Hedge Funds Weigh In On Ultrapar Participações

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC acquired a new stake in shares of Ultrapar Participações in the third quarter worth about $46,000. Freedom Investment Management Inc. bought a new position in shares of Ultrapar Participações in the 3rd quarter valued at approximately $48,000. Signaturefd LLC lifted its holdings in 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 during the last quarter. PDS Planning Inc boosted its position in Ultrapar Participações by 90.2% during the third quarter. PDS Planning Inc now owns 21,408 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 10,153 shares during the period. Finally, Blue Trust Inc. boosted its position in Ultrapar Participações by 109.2% during the third quarter. Blue Trust Inc. now owns 33,124 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 17,291 shares during the period. 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.