Ultrapar Participacoes (NYSE:UGP) Stock Rating Upgraded by 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 research analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.

Separately, Scotiabank raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to MarketBeat, Ultrapar Participacoes presently has an average rating of "Buy" and a consensus target price of $3.20.

Ultrapar Participacoes Stock Performance

Shares of NYSE UGP traded up $0.27 during mid-day trading on Friday, hitting $3.71. The company had a trading volume of 3,054,906 shares, compared to its average volume of 1,498,598. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 3.40 and a beta of 1.05. Ultrapar Participacoes has a 12 month low of $2.53 and a 12 month high of $4.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.82 and a quick ratio of 1.38. The firm's 50 day simple moving average is $3.16 and its two-hundred day simple moving average is $3.05.

Hedge Funds Weigh In On Ultrapar Participacoes

Several hedge funds have recently modified their holdings of the company. CWM LLC increased its position in shares of Ultrapar Participacoes by 55.6% during the 1st 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. Blue Trust Inc. increased its position in shares of Ultrapar Participacoes by 27.6% during the 2nd quarter. Blue Trust Inc. now owns 16,425 shares of the oil and gas company's stock valued at $54,000 after purchasing an additional 3,554 shares during the period. PDS Planning Inc increased its position in shares of Ultrapar Participacoes by 28.7% during the 1st 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. Sequoia Financial Advisors LLC increased its position in shares of Ultrapar Participacoes by 12.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 59,097 shares of the oil and gas company's stock valued at $194,000 after purchasing an additional 6,702 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Ultrapar Participacoes by 10.9% during the 1st 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 currently owned by institutional investors and hedge funds.

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.