Ultrapar Participações (NYSE:UGP) Cut to Hold at StockNews.com

StockNews.com cut shares of Ultrapar Participações (NYSE:UGP) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

UGP has been the topic of several other research reports. Hsbc Global Res upgraded shares of Ultrapar Participações from a “strong sell” rating to a “hold” rating in a research report on Friday, July 19th. HSBC upgraded Ultrapar Participações from a “reduce” rating to a “hold” rating in a research note on Friday, July 19th. Finally, The Goldman Sachs Group reduced their price objective on Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Ultrapar Participações currently has a consensus rating of “Hold” and a consensus price target of $5.20.

Ultrapar Participações Trading Up 0.9 %

UGP opened at $3.40 on Wednesday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 2.82 and a beta of 1.61. The company has a quick ratio of 1.16, a current ratio of 1.55 and a debt-to-equity ratio of 0.77. Ultrapar Participações has a twelve month low of $3.36 and a twelve month high of $6.34. The company has a 50-day simple moving average of $3.79 and a 200 day simple moving average of $4.13.

Institutional Trading of Ultrapar Participações

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its holdings in shares of Ultrapar Participações by 175.6% during the 1st quarter. Acadian Asset Management LLC now owns 3,471,048 shares of the oil and gas company’s stock valued at $19,850,000 after acquiring an additional 2,211,696 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Ultrapar Participações during the second quarter valued at about $5,887,000. Marshall Wace LLP grew its holdings in shares of Ultrapar Participações by 332.6% during the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after purchasing an additional 1,099,433 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Ultrapar Participações by 57.9% in the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after buying an additional 898,600 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Ultrapar Participações in the 3rd quarter valued at approximately $1,595,000. Institutional investors 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.