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

Key Points

• Ultrapar Participacoes reached a new 52-week high, trading as high as $6.59 and most recently at $6.5250, above its prior close of $6.46.
• Analyst sentiment is moderately positive: the stock has a consensus “Moderate Buy” rating and a $6.32 average price target, with UBS and Bank of America assigning targets of $7.20 and $7.40, respectively.
• The company has a $7.25 billion market capitalization, a 12.99 P/E ratio and relatively solid liquidity ratios; institutional investors increased holdings recently, although they own only 3.58% of shares.

Shares of Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $6.59 and last traded at $6.5250, with a volume of 101705 shares traded. The stock had previously closed at $6.46.

Analyst Ratings Changes

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

Ultrapar Participacoes Stock Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 1.67. The firm has a 50 day moving average price of $5.43 and a two-hundred day moving average price of $5.34. The company has a market capitalization of $7.25 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71.

Institutional Trading of Ultrapar Participacoes

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Ultrapar Participacoes by 10.9% during the first quarter. AQR Capital Management LLC now owns 70,838 shares of the oil and gas company's stock valued at $218,000 after acquiring an additional 6,947 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Ultrapar Participacoes by 75.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,878,904 shares of the oil and gas company's stock worth $6,163,000 after purchasing an additional 806,463 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Ultrapar Participacoes by 100.8% during the 2nd quarter. Franklin Resources Inc. now owns 22,832 shares of the oil and gas company's stock worth $75,000 after purchasing an additional 11,461 shares in the last quarter. Invesco Ltd. increased its position in shares of Ultrapar Participacoes by 80.9% during the 2nd quarter. Invesco Ltd. now owns 177,847 shares of the oil and gas company's stock worth $583,000 after purchasing an additional 79,524 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Ultrapar Participacoes by 26.6% during the 2nd quarter. Sei Investments Co. now owns 66,997 shares of the oil and gas company's stock valued at $220,000 after purchasing an additional 14,060 shares during the last quarter. 3.58% of the stock is currently owned by institutional investors.

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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