Ultrapar Participacoes (NYSE:UGP) Earns Sector Perform Rating from Scotiabank

Key Points

• Scotiabank reaffirmed its “sector perform” rating on Ultrapar Participacoes (NYSE:UGP). Analyst sentiment remains moderately positive overall, with a consensus “Moderate Buy” rating and an average price target of $6.54.
• UGP shares opened at $7.49, near their 12-month high of $7.63, after declining 0.9%. The company’s latest quarterly results slightly exceeded expectations, reporting $0.28 in earnings per share versus a $0.27 consensus estimate.
• Company insiders sold 38,585 shares worth approximately $286,648 during the last quarter, while institutional investors own 3.58% of the stock.

Ultrapar Participacoes (NYSE:UGP - Get Free Report)'s stock had its "sector perform" rating reaffirmed by equities researchers at Scotiabank in a report issued on Thursday, Benzinga reports.

UGP has been the topic of several other reports. Bank of America upgraded Ultrapar Participacoes from a "neutral" rating to a "buy" rating and lifted their target price for the company from $6.80 to $7.40 in a research report on Wednesday, July 8th. Weiss Ratings upgraded Ultrapar Participacoes from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. UBS Group raised their price objective on Ultrapar Participacoes from $7.20 to $7.90 and gave the stock a "buy" rating in a research note on Friday, September 4th. Finally, The Goldman Sachs Group lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.54.

Ultrapar Participacoes Trading Down 0.9%

Ultrapar Participacoes stock opened at $7.49 on Thursday. Ultrapar Participacoes has a 12 month low of $3.60 and a 12 month high of $7.63. The company has a market capitalization 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. The business's fifty day simple moving average is $6.56 and its two-hundred day simple moving average is $5.79. The company has a current ratio of 1.64, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 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 firm had revenue of $8 billion for the quarter, compared to analysts' expectations of $8.18 billion. As a group, equities analysts predict that Ultrapar Participacoes will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultrapar Participacoes

In related news, insider Pedro Guedes Rabelo sold 30,000 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $7.58, for a total value of $227,400.00. Following the completion of the sale, the insider directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Decio De Sampaio Amaral sold 8,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total transaction of $55,440.00. Following the transaction, the chief executive officer directly owned 151,432 shares in the company, valued at $1,049,423.76. This trade represents a 5.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,585 shares of company stock valued at $286,648 over the last quarter. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of large investors have recently bought and sold shares of the business. Engineers Gate Manager LP raised its position in shares of Ultrapar Participacoes by 419.7% in 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 stake in shares of Ultrapar Participacoes during the 2nd quarter worth $212,000. Nykredit A S bought a new stake in Ultrapar Participacoes during the second quarter valued at about $93,000. Allianz Asset Management GmbH bought a new stake in Ultrapar Participacoes during the second quarter valued at about $6,704,000. Finally, Corient Private Wealth LP boosted its position 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 valued at $314,000 after purchasing an additional 1,651 shares in the last quarter. Institutional investors own 3.58% of the company's stock.

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.

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