Ultrapar Participacoes S.A. (NYSE:UGP) Short Interest Update

Ultrapar Participacoes S.A. (NYSE:UGP) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 682,915 shares, a decrease of 59.2% from the June 15th total of 1,675,114 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 2,667,540 shares, the days-to-cover ratio is presently 0.3 days.

Ultrapar Participacoes Trading Up 2.3%

Shares of NYSE UGP opened at $6.08 on Thursday. The stock’s 50 day moving average price is $5.33 and its two-hundred day moving average price is $5.14. Ultrapar Participacoes has a 52-week low of $2.80 and a 52-week high of $6.20. The stock has a market capitalization of $6.78 billion, a P/E ratio of 12.15, a PEG ratio of 0.53 and a beta of 0.71. The company has a quick ratio of 1.30, a current ratio of 1.67 and a debt-to-equity ratio of 0.89.

Institutional Trading of Ultrapar Participacoes

Several institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. acquired a new stake in Ultrapar Participacoes during the third quarter worth about $14,639,000. JPMorgan Chase & Co. lifted its stake in Ultrapar Participacoes by 117.4% in the third quarter. JPMorgan Chase & Co. now owns 4,084,186 shares of the oil and gas company’s stock valued at $16,745,000 after buying an additional 2,205,282 shares during the last quarter. Deutsche Bank AG grew its position in shares of Ultrapar Participacoes by 42,357.3% during the fourth quarter. Deutsche Bank AG now owns 2,147,914 shares of the oil and gas company’s stock worth $8,098,000 after acquiring an additional 2,142,855 shares during the last quarter. Millennium Management LLC lifted its position in Ultrapar Participacoes by 306.4% in the 3rd quarter. Millennium Management LLC now owns 2,796,662 shares of the oil and gas company’s stock valued at $11,466,000 after purchasing an additional 2,108,543 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Ultrapar Participacoes by 98.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,214,612 shares of the oil and gas company’s stock valued at $15,889,000 after purchasing an additional 2,087,852 shares during the period. Institutional investors own 3.58% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on UGP. HSBC downgraded shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating and lifted their price target for the stock from $4.90 to $6.00 in a research note on Wednesday, April 8th. UBS Group raised their target price on Ultrapar Participacoes from $7.00 to $7.20 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Wall Street Zen raised Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research note on Monday, June 8th. Finally, Bank of America upgraded Ultrapar Participacoes from a “neutral” rating to a “buy” rating and raised their price objective for the company from $6.80 to $7.40 in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.32.

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.