Brokerages Set Ultrapar Participações S.A. (NYSE:UGP) Price Target at $3.20

Ultrapar Participações S.A. (NYSE:UGP) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $3.20.

A number of brokerages recently commented on UGP. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. StockNews.com cut Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upgraded shares of Ultrapar Participações from a “neutral” rating to a “buy” rating and cut their price target for the company from $4.10 to $3.20 in a research report on Friday, January 31st. HSBC upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a research report on Friday, December 27th.

Ultrapar Participações Price Performance

Shares of UGP stock opened at $2.88 on Tuesday. The firm’s 50 day moving average price is $2.76 and its two-hundred day moving average price is $3.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. Ultrapar Participações has a 52-week low of $2.53 and a 52-week high of $6.34. The stock has a market cap of $3.21 billion, a PE ratio of 6.25, a PEG ratio of 2.52 and a beta of 1.52.

Institutional Investors Weigh In On Ultrapar Participações

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. lifted its stake in Ultrapar Participações by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,811,400 shares of the oil and gas company’s stock valued at $4,764,000 after acquiring an additional 115,600 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Ultrapar Participações during the 3rd quarter worth approximately $1,595,000. Dimensional Fund Advisors LP raised its position in shares of Ultrapar Participações by 16.6% in the second quarter. Dimensional Fund Advisors LP now owns 303,436 shares of the oil and gas company’s stock valued at $1,187,000 after purchasing an additional 43,258 shares during the period. Ritholtz Wealth Management lifted its position in Ultrapar Participações by 54.0% during the third quarter. Ritholtz Wealth Management now owns 283,247 shares of the oil and gas company’s stock worth $1,099,000 after acquiring an additional 99,324 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Ultrapar Participações by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 251,203 shares of the oil and gas company’s stock worth $975,000 after purchasing an additional 15,517 shares during the last quarter. 3.58% of the stock is currently owned by institutional investors and hedge funds.

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.