Ultrapar Participacoes (NYSE:UGP) Shares Gap Down - Here's What Happened

Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.27, but opened at $3.17. Ultrapar Participacoes shares last traded at $3.17, with a volume of 261,687 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Ultrapar Participacoes from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ultrapar Participacoes currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.20.

Ultrapar Participacoes Trading Down 2.2%

The company has a market capitalization of $3.50 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.26. The firm has a fifty day moving average price of $3.08 and a 200-day moving average price of $2.96.

Hedge Funds Weigh In On Ultrapar Participacoes

Several institutional investors have recently modified their holdings of the business. CWM LLC grew its holdings in Ultrapar Participacoes by 55.6% during the first quarter. CWM LLC now owns 9,463 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 3,380 shares during the period. Signaturefd LLC grew its holdings in Ultrapar Participacoes by 23.0% during the fourth quarter. Signaturefd LLC now owns 19,705 shares of the oil and gas company's stock valued at $52,000 after purchasing an additional 3,688 shares during the period. PDS Planning Inc grew its holdings in Ultrapar Participacoes by 28.7% during the first quarter. PDS Planning Inc now owns 26,109 shares of the oil and gas company's stock valued at $80,000 after purchasing an additional 5,817 shares during the period. Sei Investments Co. grew its holdings in Ultrapar Participacoes by 27.9% during the fourth quarter. Sei Investments Co. now owns 31,534 shares of the oil and gas company's stock valued at $83,000 after purchasing an additional 6,882 shares during the period. Finally, AQR Capital Management LLC grew its holdings in 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 purchasing an additional 6,947 shares during the period. 3.58% of the stock is owned by institutional investors.

Ultrapar Participacoes Company Profile

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.