Ultrapar Participacoes (NYSE:UGP) Hits New 1-Year High – Still a Buy?

Ultrapar Participacoes S.A. (NYSE:UGP)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.22 and last traded at $6.1950, with a volume of 796636 shares. The stock had previously closed at $6.08.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on UGP shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ultrapar Participacoes in a research report on Monday, June 8th. HSBC downgraded 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 note on Wednesday, April 8th. UBS Group increased their price target on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Bank of America raised Ultrapar Participacoes from a “neutral” rating to a “buy” rating and raised their price target for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. Finally, Wall Street Zen upgraded Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.32.

Ultrapar Participacoes Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 1.67. The business’s 50 day simple moving average is $5.33 and its 200-day simple moving average is $5.14. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in Ultrapar Participacoes in the 4th quarter worth approximately $32,000. EverSource Wealth Advisors LLC boosted its position in Ultrapar Participacoes by 45.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,982 shares during the period. SG Americas Securities LLC bought a new position in shares of Ultrapar Participacoes in the fourth quarter worth $44,000. GeoWealth Management LLC bought a new position in shares of Ultrapar Participacoes in the fourth quarter worth $44,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Ultrapar Participacoes during the fourth quarter valued at $45,000. 3.58% of the stock is owned by 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.