Ultrapar Participações (NYSE:UGP) Shares Gap Up – Here’s What Happened

Ultrapar Participações S.A. (NYSE:UGP)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.88, but opened at $2.97. Ultrapar Participações shares last traded at $2.95, with a volume of 31,960 shares changing hands.

Analyst Ratings Changes

A number of analysts have issued reports on UGP shares. StockNews.com lowered shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. HSBC raised shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group upgraded shares of Ultrapar Participações from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $4.10 to $3.20 in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Finally, Hsbc Global Res upgraded Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy 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 $3.20.

Ultrapar Participações Price Performance

The stock’s 50 day moving average is $2.76 and its two-hundred day moving average is $3.46. The stock has a market capitalization of $3.27 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 2.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11.

Hedge Funds Weigh In On Ultrapar Participações

Several large investors have recently bought and sold shares of UGP. Sequoia Financial Advisors LLC acquired a new position in shares of Ultrapar Participações during the 3rd quarter worth about $46,000. Freedom Investment Management Inc. acquired a new position in Ultrapar Participações in the third quarter valued at approximately $48,000. Signaturefd LLC boosted its holdings in Ultrapar Participações by 67.9% in the third quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 6,476 shares in the last quarter. QRG Capital Management Inc. increased its stake in Ultrapar Participações by 38.1% in the fourth quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 5,687 shares during the last quarter. Finally, PDS Planning Inc raised its holdings in Ultrapar Participações by 90.2% during the third quarter. PDS Planning Inc now owns 21,408 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 10,153 shares in the last quarter. Hedge funds and other institutional investors own 3.58% of the company’s stock.

Ultrapar Participações Company Profile

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.