Ultrapar Participacoes (NYSE:UGP) Hits New 1-Year High - Time to Buy?

Key Points

• Ultrapar Participacoes (NYSE:UGP) hit a new 52-week high, trading as high as $6.41 and last around $6.40, up about 1.7% on the day.
• Recent analyst actions were mixed but generally improved, with Bank of America and UBS upgrading or raising targets; the current consensus rating is Moderate Buy with a target price of $6.32.
• The company operates in downstream energy and chemicals in Brazil, and institutional ownership has risen as hedge funds and other investors recently increased their stakes.

Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $6.41 and last traded at $6.4040, with a volume of 320389 shares trading hands. The stock had previously closed at $6.28.

Analyst Ratings Changes

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

Ultrapar Participacoes Stock Up 1.7%

The firm has a market capitalization of $7.12 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71. The company has a current ratio of 1.67, a quick ratio of 1.30 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average of $5.35 and a two-hundred day moving average of $5.21.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. grew its stake in shares of Ultrapar Participacoes by 233.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 63,803 shares of the oil and gas company's stock valued at $320,000 after acquiring an additional 44,645 shares in the last quarter. Optiver Holding B.V. grew its holdings in shares of Ultrapar Participacoes by 3.0% during the first quarter. Optiver Holding B.V. now owns 453,455 shares of the oil and gas company's stock valued at $2,499,000 after purchasing an additional 13,203 shares during the last quarter. Parvin Asset Management LLC increased its position in Ultrapar Participacoes by 11.6% in the first quarter. Parvin Asset Management LLC now owns 185,750 shares of the oil and gas company's stock worth $1,023,000 after buying an additional 19,350 shares during the period. EverSource Wealth Advisors LLC lifted its position in Ultrapar Participacoes by 45.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 1,982 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Ultrapar Participacoes by 165.5% during the first quarter. Royal Bank of Canada now owns 12,390 shares of the oil and gas company's stock worth $68,000 after buying an additional 7,724 shares during the period. Hedge funds and other institutional investors own 3.58% of the company's stock.

Ultrapar Participacoes Company Profile

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.

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