Ultrapar Participações (NYSE:UGP) Upgraded by Scotiabank to “Hold” Rating

Scotiabank upgraded shares of Ultrapar Participações (NYSE:UGP) to a hold rating in a report published on Friday morning,Zacks.com reports.

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

Ultrapar Participações Trading Down 0.4 %

NYSE UGP traded down $0.01 on Friday, reaching $2.59. 2,163,358 shares of the company were exchanged, compared to its average volume of 1,542,339. Ultrapar Participações has a fifty-two week low of $2.55 and a fifty-two week high of $6.34. The stock has a market capitalization of $2.89 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.53. The business’s fifty day moving average price is $3.20 and its 200 day moving average price is $3.75. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D Orazio & Associates Inc. grew its stake in Ultrapar Participações by 30.3% during the 2nd quarter. D Orazio & Associates Inc. now owns 15,046 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 3,498 shares in the last quarter. Aigen Investment Management LP grew its position in shares of Ultrapar Participações by 19.4% during the third quarter. Aigen Investment Management LP now owns 38,120 shares of the oil and gas company’s stock worth $148,000 after buying an additional 6,205 shares in the last quarter. Signaturefd LLC grew its position in shares of Ultrapar Participações by 67.9% during the third quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company’s stock worth $62,000 after buying an additional 6,476 shares in the last quarter. Inspire Advisors LLC raised its holdings in Ultrapar Participações by 33.7% in the third quarter. Inspire Advisors LLC now owns 38,838 shares of the oil and gas company’s stock valued at $151,000 after acquiring an additional 9,794 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Ultrapar Participações by 26.0% during the 3rd quarter. Jane Street Group LLC now owns 48,712 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 10,037 shares during the last quarter. Hedge funds and other institutional investors 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.