Ultrapar Participações (NYSE:UGP) Shares Gap Down – Here’s Why

Ultrapar Participações S.A. (NYSE:UGP) gapped down prior to trading on Wednesday . The stock had previously closed at $3.03, but opened at $2.95. Ultrapar Participações shares last traded at $2.96, with a volume of 30,758 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. The Goldman Sachs Group raised Ultrapar Participações from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $4.10 to $3.20 in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.20.

Ultrapar Participações Stock Performance

The stock has a market capitalization of $3.30 billion, a P/E ratio of 6.43, a price-to-earnings-growth ratio of 2.39 and a beta of 1.13. The company has a fifty day moving average of $3.02 and a two-hundred day moving average of $2.93. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11.

Institutional Investors Weigh In On Ultrapar Participações

Several institutional investors have recently bought and sold shares of UGP. SG Americas Securities LLC acquired a new position in shares of Ultrapar Participações in the 4th quarter worth $374,000. QRG Capital Management Inc. raised its holdings in shares of Ultrapar Participações by 38.1% during the 4th quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 5,687 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ultrapar Participações by 763.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company’s stock worth $3,616,000 after buying an additional 1,215,605 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Ultrapar Participações in the 4th quarter worth approximately $288,000. Finally, Blue Trust Inc. lifted its stake in shares of Ultrapar Participações by 72.4% in the fourth quarter. Blue Trust Inc. now owns 57,100 shares of the oil and gas company’s stock valued at $150,000 after buying an additional 23,976 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.