Bank of America Increases Ultrapar Participacoes (NYSE:UGP) Price Target to $6.80

Ultrapar Participacoes (NYSE:UGP) had its price objective lifted by equities research analysts at Bank of America from $6.30 to $6.80 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Bank of America‘s price target would suggest a potential upside of 35.59% from the stock’s current price.

Several other equities research analysts have also weighed in on UGP. Jefferies Financial Group raised Ultrapar Participacoes from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $3.10 to $5.60 in a research note on Friday, March 13th. Wall Street Zen raised Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ultrapar Participacoes in a research note on Monday, June 8th. UBS Group boosted their price objective on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, HSBC lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating and upped their price objective for the company from $4.90 to $6.00 in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Ultrapar Participacoes currently has an average rating of “Moderate Buy” and a consensus price target of $6.20.

Ultrapar Participacoes Price Performance

NYSE:UGP traded down $0.04 during mid-day trading on Tuesday, reaching $5.01. 1,092,171 shares of the stock were exchanged, compared to its average volume of 2,721,943. Ultrapar Participacoes has a 1-year low of $2.80 and a 1-year high of $6.20. The company has a current ratio of 1.67, a quick ratio of 1.30 and a debt-to-equity ratio of 0.89. The business has a fifty day moving average price of $5.41 and a 200 day moving average price of $4.99. The firm has a market capitalization of $5.59 billion, a PE ratio of 10.03, a PEG ratio of 0.98 and a beta of 0.71.

Ultrapar Participacoes (NYSE:UGP) last released its earnings results on Saturday, February 14th. The oil and gas company reported $0.05 EPS for the quarter. The business had revenue of $6.19 billion during the quarter. Ultrapar Participacoes had a net margin of 2.04% and a return on equity of 16.54%. Research analysts expect that Ultrapar Participacoes will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Ultrapar Participacoes

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ultrapar Participacoes during the 4th quarter valued at $32,000. EverSource Wealth Advisors LLC boosted its position in Ultrapar Participacoes by 45.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 1,982 shares during the last quarter. SG Americas Securities LLC purchased a new position in Ultrapar Participacoes in the fourth quarter valued at about $44,000. GeoWealth Management LLC purchased a new position in Ultrapar Participacoes in the fourth quarter valued at about $44,000. Finally, EP Wealth Advisors LLC acquired a new position in Ultrapar Participacoes in the 4th quarter worth about $45,000. 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.