Ultrapar Participacoes (NYSE:UGP) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Ultrapar Participacoes S.A. (NYSE:UGP) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.78 and traded as high as $5.85. Ultrapar Participacoes shares last traded at $5.8350, with a volume of 3,504,976 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Ultrapar Participacoes from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 11th. HSBC lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating and lifted their target price for the company from $4.90 to $6.00 in a research report on Wednesday, April 8th. Jefferies Financial Group upgraded shares of Ultrapar Participacoes from an “underperform” rating to a “hold” rating and lifted their target price for the company from $3.10 to $5.60 in a research report on Friday, March 13th. UBS Group assumed coverage on shares of Ultrapar Participacoes in a research report on Tuesday, April 28th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Ultrapar Participacoes Trading Up 2.6%

The company’s 50 day moving average price is $5.64 and its two-hundred day moving average price is $4.81. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.67 and a quick ratio of 1.30. The stock has a market capitalization of $6.44 billion, a PE ratio of 11.55, a P/E/G ratio of 1.05 and a beta of 0.77.

Ultrapar Participacoes (NYSE:UGP) last posted its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.05 earnings per share for the quarter. The firm had revenue of $6.19 billion for the quarter. Ultrapar Participacoes had a net margin of 2.04% and a return on equity of 16.54%. As a group, analysts expect that Ultrapar Participacoes S.A. will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On Ultrapar Participacoes

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Ultrapar Participacoes by 45.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,982 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Ultrapar Participacoes during the fourth quarter worth about $32,000. R Squared Ltd purchased a new position in Ultrapar Participacoes during the first quarter worth about $55,000. Allspring Global Investments Holdings LLC purchased a new position in Ultrapar Participacoes during the first quarter worth about $62,000. Finally, SG Americas Securities LLC purchased a new position in Ultrapar Participacoes during the fourth quarter worth about $44,000. 3.58% of the stock is owned by hedge funds and other institutional investors.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.