Ultrapar Participacoes’ (UGP) Sector Perform Rating Reiterated at Scotiabank

Ultrapar Participacoes (NYSE:UGP)‘s stock had its “sector perform” rating reissued by equities researchers at Scotiabank in a report released on Thursday, Benzinga reports.

A number of other brokerages have also commented on UGP. The Goldman Sachs Group dropped their target price on Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. Bank of America raised shares of 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 research report on Wednesday, July 8th. UBS Group upped their price objective on shares of Ultrapar Participacoes from $7.20 to $7.90 and gave the company a “buy” rating in a report on Friday, September 4th. Finally, Weiss Ratings upgraded shares of Ultrapar Participacoes from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.54.

Ultrapar Participacoes Stock Down 0.9%

Shares of UGP stock opened at $7.49 on Thursday. Ultrapar Participacoes has a 1-year low of $3.60 and a 1-year high of $7.63. The stock’s fifty day moving average price is $6.56 and its 200 day moving average price is $5.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.26. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73.

Ultrapar Participacoes (NYSE:UGP) last issued its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Ultrapar Participacoes had a net margin of 2.28% and a return on equity of 18.84%. The business had revenue of $8 billion for the quarter, compared to analyst estimates of $8.18 billion. On average, research analysts expect that Ultrapar Participacoes will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultrapar Participacoes

In other news, insider Pedro Guedes Rabelo sold 30,000 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $7.58, for a total transaction of $227,400.00. Following the completion of the sale, the insider owned 57,898 shares of the company’s stock, valued at $438,866.84. This represents a 34.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Decio De Sampaio Amaral sold 8,000 shares of Ultrapar Participacoes stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $6.93, for a total value of $55,440.00. Following the transaction, the chief executive officer owned 151,432 shares in the company, valued at approximately $1,049,423.76. The trade was a 5.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 38,585 shares of company stock worth $286,648. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultrapar Participacoes

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP lifted its stake in Ultrapar Participacoes by 419.7% during the 2nd quarter. Engineers Gate Manager LP now owns 257,957 shares of the oil and gas company’s stock worth $1,295,000 after acquiring an additional 208,319 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Ultrapar Participacoes in the second quarter worth approximately $212,000. Nykredit A S acquired a new position in shares of Ultrapar Participacoes during the second quarter worth $93,000. Allianz Asset Management GmbH acquired a new position in shares of Ultrapar Participacoes during the 2nd quarter worth about $6,704,000. Finally, Corient Private Wealth LP raised its holdings in Ultrapar Participacoes by 2.7% during the second quarter. Corient Private Wealth LP now owns 62,497 shares of the oil and gas company’s stock worth $314,000 after purchasing an additional 1,651 shares in the last quarter. 3.58% of the stock is owned by hedge funds and other institutional investors.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian holding company with operations focused on fuel distribution, liquefied petroleum gas and bulk liquid storage. The company traces its origins to 1937, when it was established as Companhia Brasileira de Gás a Domicílio, the predecessor of Ultragaz. Ultrapar’s American depositary shares trade on the New York Stock Exchange under the symbol UGP.

Its principal businesses include Ipiranga, a fuel distribution company that supplies gasoline, ethanol, diesel and other fuels through a nationwide network of service stations.