Ultrapar Participacoes (NYSE:UGP) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• The Goldman Sachs Group has raised the price target for Ultrapar Participacoes (NYSE:UGP) from $4.00 to $4.50, indicating a potential upside of 12.92% from the stock’s previous close.
• Several other analysts have upgraded their ratings on Ultrapar, with Scotiabank and Wall Street Zen both moving from a "hold" to a "strong-buy" rating.
• Ultrapar's current consensus rating is a "Buy" with a price target of $4.50, and institutional investors have also increased their stakes in the company significantly.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) had its price target boosted by equities researchers at The Goldman Sachs Group from $4.00 to $4.50 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. The Goldman Sachs Group's price target points to a potential upside of 12.92% from the stock's previous close.

A number of other equities analysts have also weighed in on UGP. Scotiabank raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, Ultrapar Participacoes currently has a consensus rating of "Buy" and a consensus price target of $4.50.

Ultrapar Participacoes Trading Up 0.4%

UGP traded up $0.02 during trading on Friday, reaching $3.99. 702,478 shares of the company's stock were exchanged, compared to its average volume of 1,823,298. The company's fifty day moving average price is $3.42 and its 200-day moving average price is $3.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.38 and a current ratio of 1.82. Ultrapar Participacoes has a fifty-two week low of $2.53 and a fifty-two week high of $4.07. The firm has a market capitalization of $4.45 billion, a PE ratio of 8.86, a P/E/G ratio of 2.15 and a beta of 1.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted 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 worth $29,000 after purchasing an additional 3,380 shares during the last quarter. Blue Trust Inc. raised its position in Ultrapar Participacoes by 27.6% in the second quarter. Blue Trust Inc. now owns 16,425 shares of the oil and gas company's stock worth $54,000 after acquiring an additional 3,554 shares during the period. PDS Planning Inc raised its position in Ultrapar Participacoes by 28.7% in the first quarter. PDS Planning Inc now owns 26,109 shares of the oil and gas company's stock worth $80,000 after acquiring an additional 5,817 shares during the period. Sequoia Financial Advisors LLC raised its position in Ultrapar Participacoes by 12.8% in the second quarter. Sequoia Financial Advisors LLC now owns 59,097 shares of the oil and gas company's stock worth $194,000 after acquiring an additional 6,702 shares during the period. Finally, AQR Capital Management LLC raised its position in Ultrapar Participacoes by 10.9% in the first quarter. AQR Capital Management LLC now owns 70,838 shares of the oil and gas company's stock worth $218,000 after acquiring an additional 6,947 shares during the period. 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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