Ultrapar Participacoes (NYSE:UGP) Shares Gap Up - What's Next?

Key Points

• Ultrapar Participacoes experienced a share price increase, opening at $3.31 after closing at $3.16, with the latest trade at $3.28 and a volume of 535,574 shares.
• Analysts are mixed on the stock, with Wall Street Zen downgrading it to "hold" while Scotiabank upgraded it to "strong-buy," resulting in a consensus average rating of "Buy" with a target price of $3.20.
• Institutional investors have increased their stakes significantly, with major boosts in holdings from firms like JPMorgan Chase & Co. and Renaissance Technologies LLC, highlighting growing institutional interest in the company.

Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $3.16, but opened at $3.31. Ultrapar Participacoes shares last traded at $3.28, with a volume of 535,574 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on UGP. Wall Street Zen lowered Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Scotiabank raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $3.20.

Ultrapar Participacoes Trading Up 4.9%

The firm has a 50 day moving average price of $3.10 and a two-hundred day moving average price of $3.01. The firm has a market capitalization of $3.70 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 3.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.76.

Institutional Trading of Ultrapar Participacoes

Several hedge funds and other institutional investors have recently modified their holdings of the company. Polunin Capital Partners Ltd grew its position in shares of Ultrapar Participacoes by 8.9% in 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 purchasing an additional 776,808 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Ultrapar Participacoes by 74.3% during the fourth quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company's stock valued at $9,241,000 after purchasing an additional 1,497,300 shares in the last quarter. Marshall Wace LLP boosted its holdings in Ultrapar Participacoes by 18.7% during the fourth quarter. Marshall Wace LLP now owns 2,821,125 shares of the oil and gas company's stock valued at $7,420,000 after purchasing an additional 444,724 shares in the last quarter. American Century Companies Inc. boosted 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 purchasing an additional 803,065 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Ultrapar Participacoes by 75.2% in 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 acquiring an additional 806,463 shares during the last quarter. 3.58% of the stock is currently owned by hedge funds and other 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.

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