Ultrapar Participacoes (NYSE:UGP) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Ultrapar Participacoes S.A. stock has recently traded above its 200-day moving average of $2.98, reaching as high as $3.03 during trading.
• Analysts have downgraded Ultrapar shares from a "buy" to a "hold" rating, yet the stock maintains a "Moderate Buy" average rating with a target price of $3.20.
• Institutional investors have significantly increased their stakes in Ultrapar, with Polunin Capital Partners and Renaissance Technologies making notable purchases during the last quarters.

Shares of Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.98 and traded as high as $3.03. Ultrapar Participacoes shares last traded at $3.01, with a volume of 1,982,889 shares trading hands.

Analysts Set New Price Targets

Several analysts have commented on UGP shares. Scotiabank raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research report on Monday. Wall Street Zen lowered shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $3.20.

Ultrapar Participacoes Trading Up 1.5%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.76. The stock has a market capitalization of $3.45 billion, a PE ratio of 8.60, a P/E/G ratio of 2.66 and a beta of 1.06. The company has a 50 day moving average of $3.07 and a two-hundred day moving average of $2.98.

Hedge Funds Weigh In On Ultrapar Participacoes

Several hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of 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 acquiring an additional 3,380 shares in the last quarter. Blue Trust Inc. increased its holdings in Ultrapar Participacoes by 27.6% in the 2nd quarter. Blue Trust Inc. now owns 16,425 shares of the oil and gas company's stock worth $54,000 after buying an additional 3,554 shares during the period. PDS Planning Inc increased its holdings in Ultrapar Participacoes by 28.7% in the 1st quarter. PDS Planning Inc now owns 26,109 shares of the oil and gas company's stock worth $80,000 after buying an additional 5,817 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Ultrapar Participacoes by 12.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 59,097 shares of the oil and gas company's stock worth $194,000 after buying an additional 6,702 shares during the period. Finally, Sei Investments Co. increased its holdings in Ultrapar Participacoes by 27.9% in the 4th quarter. Sei Investments Co. now owns 31,534 shares of the oil and gas company's stock worth $83,000 after buying an additional 6,882 shares during the period. Institutional investors and hedge funds own 3.58% of the company's stock.

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.