Ultrapar Participacoes (NYSE:UGP) Upgraded at Wall Street Zen

Key Points

• Ultrapar Participacoes received a rating upgrade from "hold" to "strong-buy" by Wall Street Zen, reflecting positive sentiment about the stock's potential.
• The stock has a consensus rating of "Buy" with a target price of $3.20, backed by multiple analysts including Scotiabank.
• Institutional investments in Ultrapar have surged, with Vident Advisory increasing their stake by 93.6% and BNP Paribas Financial Markets by 434.9% in the last quarter.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a note issued to investors on Friday.

Separately, Scotiabank raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $3.20.

Ultrapar Participacoes Stock Up 2.6%

Ultrapar Participacoes stock opened at $3.3650 on Friday. Ultrapar Participacoes has a fifty-two week low of $2.53 and a fifty-two week high of $4.38. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.26 and a current ratio of 1.82. The company has a market capitalization of $3.75 billion, a P/E ratio of 7.48, a PEG ratio of 3.24 and a beta of 1.05. The stock has a 50-day simple moving average of $3.14 and a 200-day simple moving average of $3.03.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vident Advisory LLC raised its holdings in Ultrapar Participacoes by 93.6% during the second quarter. Vident Advisory LLC now owns 268,982 shares of the oil and gas company's stock worth $882,000 after purchasing an additional 130,076 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Ultrapar Participacoes by 434.9% during the second quarter. BNP Paribas Financial Markets now owns 374,838 shares of the oil and gas company's stock worth $1,229,000 after purchasing an additional 304,758 shares in the last quarter. Jane Street Group LLC purchased a new position in Ultrapar Participacoes during the second quarter worth about $510,000. The Manufacturers Life Insurance Company purchased a new position in Ultrapar Participacoes during the second quarter worth about $56,000. Finally, Sei Investments Co. raised its holdings in Ultrapar Participacoes by 26.6% during the second quarter. Sei Investments Co. now owns 66,997 shares of the oil and gas company's stock worth $220,000 after purchasing an additional 14,060 shares in the last quarter. 3.58% of the stock is 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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