Ultrapar Participacoes (NYSE:UGP) Rating Increased to Strong-Buy at Scotiabank

Key Points

• Ultrapar Participacoes has been upgraded by Scotiabank from a "sector perform" rating to a "sector outperform" rating, indicating improved investor sentiment towards the stock.
• In contrast, Wall Street Zen downgraded Ultrapar from a "buy" rating to a "hold" rating, highlighting mixed analyst opinions on the company's stock performance.
• Ultrapar currently has a market capitalization of $3.35 billion and an average price target estimate of $3.20 from analysts, with the stock recently opening at $3.01.

Scotiabank upgraded shares of Ultrapar Participacoes (NYSE:UGP - Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports.

Separately, Wall Street Zen downgraded Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $3.20.

Ultrapar Participacoes Price Performance

Shares of UGP stock traded down $0.04 on Monday, reaching $3.07. The company's stock had a trading volume of 933,214 shares, compared to its average volume of 1,891,152. The company has a quick ratio of 1.26, a current ratio of 1.76 and a debt-to-equity ratio of 0.76. Ultrapar Participacoes has a 12-month low of $2.53 and a 12-month high of $4.51. The company has a market capitalization of $3.42 billion, a P/E ratio of 8.51, a PEG ratio of 3.12 and a beta of 1.06. The stock's 50 day simple moving average is $3.07 and its 200-day simple moving average is $2.98.

Institutional Investors Weigh In On Ultrapar Participacoes

Large investors have recently added to or reduced their stakes in the company. CWM LLC boosted its position in 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 acquiring an additional 3,380 shares in the last quarter. Blue Trust Inc. raised 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 acquiring an additional 3,554 shares during the last quarter. PDS Planning Inc raised its stake in 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 buying an additional 5,817 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in 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 buying an additional 6,702 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Ultrapar Participacoes by 27.9% during the 4th quarter. Sei Investments Co. now owns 31,534 shares of the oil and gas company's stock valued at $83,000 after buying an additional 6,882 shares during the last quarter. Hedge funds and other institutional investors 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.