Analysts Set Ultrapar Participacoes S.A. (NYSE:UGP) Target Price at $4.50

Ultrapar Participacoes S.A. (NYSE:UGP) has earned a consensus rating of “Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4.50.

UGP has been the topic of several research analyst reports. Wall Street Zen raised shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Zacks Research upgraded shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. The Goldman Sachs Group increased their price objective on shares of Ultrapar Participacoes from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ultrapar Participacoes in a research report on Tuesday, November 25th.

Ultrapar Participacoes Price Performance

Ultrapar Participacoes stock opened at $4.23 on Monday. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.91 and a beta of 0.89. Ultrapar Participacoes has a 52-week low of $2.53 and a 52-week high of $4.39. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.40 and a current ratio of 1.83. The stock’s 50 day moving average price is $4.01 and its two-hundred day moving average price is $3.52.

Hedge Funds Weigh In On Ultrapar Participacoes

Hedge funds have recently bought and sold shares of the company. CWM LLC grew its holdings in shares of Ultrapar Participacoes by 55.6% in the first quarter. CWM LLC now owns 9,463 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 3,380 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Ultrapar Participacoes by 30.5% in the first quarter. PNC Financial Services Group Inc. now owns 53,351 shares of the oil and gas company’s stock worth $164,000 after purchasing an additional 12,480 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Ultrapar Participacoes in the 1st quarter valued at $831,000. Invesco Ltd. increased its position in shares of Ultrapar Participacoes by 15.8% during the 1st quarter. Invesco Ltd. now owns 98,323 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 13,416 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Ultrapar Participacoes by 6.5% during the 1st quarter. American Century Companies Inc. now owns 1,892,257 shares of the oil and gas company’s stock valued at $5,828,000 after purchasing an additional 116,150 shares during the last quarter. 3.58% of the stock is owned by hedge funds and other institutional investors.

Ultrapar Participacoes 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.