Ultrapar Participacoes S.A. (UGP) Stock Rating Lowered by BidaskClub

Ultrapar Participacoes S.A. (NYSE:UGP) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. HSBC Holdings plc lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Bank of America Corporation lowered shares of Ultrapar Participacoes from a “neutral” rating to an “underperform” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.00.

Ultrapar Participacoes (UGP) opened at 22.32 on Friday. The firm’s 50-day moving average price is $23.36 and its 200 day moving average price is $22.63. Ultrapar Participacoes has a 52-week low of $18.38 and a 52-week high of $24.79. The firm has a market cap of $12.21 billion, a PE ratio of 26.70 and a beta of 1.12.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Aberdeen Asset Management PLC UK raised its position in Ultrapar Participacoes by 5.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 4,278,967 shares of the oil and gas company’s stock valued at $100,685,000 after buying an additional 226,350 shares during the period. Legato Capital Management LLC raised its position in Ultrapar Participacoes by 2,549.3% in the first quarter. Legato Capital Management LLC now owns 3,184,473 shares of the oil and gas company’s stock valued at $140,100,000 after buying an additional 3,064,273 shares during the period. Genesis Asset Managers LLP raised its position in Ultrapar Participacoes by 228.4% in the second quarter. Genesis Asset Managers LLP now owns 3,070,132 shares of the oil and gas company’s stock valued at $72,240,000 after buying an additional 2,135,204 shares during the period. Ruffer LLP raised its position in Ultrapar Participacoes by 193.3% in the first quarter. Ruffer LLP now owns 1,447,471 shares of the oil and gas company’s stock valued at $33,249,000 after buying an additional 954,016 shares during the period. Finally, Bank of America Corp DE raised its position in Ultrapar Participacoes by 934.1% in the first quarter. Bank of America Corp DE now owns 1,017,169 shares of the oil and gas company’s stock valued at $23,120,000 after buying an additional 918,809 shares during the period. Hedge funds and other institutional investors own 4.28% of the company’s stock.

About Ultrapar Participacoes

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