Ultrapar Participacoes (NYSE:UGP) Rating Increased to Strong-Buy at Zacks Research

Ultrapar Participacoes (NYSE:UGP) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Scotiabank upgraded shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 28th. The Goldman Sachs Group upped their target price on shares of Ultrapar Participacoes from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, Wall Street Zen upgraded shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus price target of $4.50.

Ultrapar Participacoes Trading Up 0.6%

NYSE:UGP opened at $4.11 on Monday. Ultrapar Participacoes has a one year low of $2.53 and a one year high of $4.16. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.82 and a quick ratio of 1.38. The company’s 50-day simple moving average is $3.49 and its 200 day simple moving average is $3.21. The firm has a market capitalization of $4.58 billion, a P/E ratio of 9.12, a PEG ratio of 2.12 and a beta of 1.11.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Ultrapar Participacoes by 75.2% during the second quarter. JPMorgan Chase & Co. now owns 1,878,904 shares of the oil and gas company’s stock valued at $6,163,000 after buying an additional 806,463 shares during the last quarter. American Century Companies Inc. increased its holdings in Ultrapar Participacoes by 42.4% during the second quarter. American Century Companies Inc. now owns 2,695,322 shares of the oil and gas company’s stock valued at $8,841,000 after buying an additional 803,065 shares during the last quarter. Polunin Capital Partners Ltd increased its holdings in Ultrapar Participacoes by 8.9% during the second quarter. Polunin Capital Partners Ltd now owns 9,457,242 shares of the oil and gas company’s stock valued at $31,398,000 after buying an additional 776,808 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Ultrapar Participacoes by 1,248.8% during the second quarter. Quadrant Capital Group LLC now owns 497,253 shares of the oil and gas company’s stock valued at $1,631,000 after buying an additional 460,388 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Ultrapar Participacoes by 162.2% during the fourth quarter. Wellington Management Group LLP now owns 599,642 shares of the oil and gas company’s stock valued at $1,577,000 after buying an additional 370,960 shares during the last quarter. 3.58% of the stock is owned by hedge funds and other institutional investors.

About Ultrapar Participacoes

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.