Ultrapar Participacoes S.A. (NYSE:UGP) Given Average Recommendation of “Moderate Buy” by Brokerages

Ultrapar Participacoes S.A. (NYSE:UGP) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.32.

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ultrapar Participacoes in a research note on Monday, June 8th. HSBC lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating and boosted their target price for the company from $4.90 to $6.00 in a report on Wednesday, April 8th. UBS Group upped their price target on shares of Ultrapar Participacoes from $7.00 to $7.20 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Bank of America upgraded Ultrapar Participacoes from a “neutral” rating to a “buy” rating and increased their price target for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. Finally, Wall Street Zen raised Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th.

Ultrapar Participacoes Stock Up 2.3%

Ultrapar Participacoes stock opened at $6.08 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 1.67. Ultrapar Participacoes has a 52-week low of $2.80 and a 52-week high of $6.20. The firm has a 50 day moving average price of $5.33 and a two-hundred day moving average price of $5.14. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.53 and a beta of 0.71.

Institutional Investors Weigh In On Ultrapar Participacoes

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

About Ultrapar Participacoes

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.