Ultrapar Participacoes (NYSE:UGP) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Wall Street Zen upgraded Ultrapar Participacoes from a “buy” to a “strong-buy” rating, adding to a mixed but generally positive analyst backdrop. The stock now has a consensus rating of Moderate Buy with an average price target of $6.00.
• UGP shares rose 3.5% and opened at $6.11, close to their 52-week high of $6.16. The company has a market cap of about $6.81 billion and trades above both its 50-day and 200-day moving averages.
• Ultrapar’s recent fundamentals were modest but positive, with the company reporting $0.05 EPS on $6.19 billion in revenue for the latest quarter. Analysts expect full-year earnings of about $0.58 per share.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

A number of other research firms also recently weighed in on UGP. UBS Group started coverage on shares of Ultrapar Participacoes in a research note on Tuesday, April 28th. They set a "buy" rating and a $7.00 price target for the company. HSBC downgraded shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating and boosted their price target for the stock from $4.90 to $6.00 in a research note on Wednesday, April 8th. Weiss Ratings downgraded shares of Ultrapar Participacoes from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, March 11th. Jefferies Financial Group raised shares of Ultrapar Participacoes from an "underperform" rating to a "hold" rating and boosted their price target for the stock from $3.10 to $5.60 in a research note on Friday, March 13th. Finally, The Goldman Sachs Group downgraded shares of Ultrapar Participacoes from a "buy" rating to a "neutral" rating and set a $5.40 target price for the company. in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Ultrapar Participacoes presently has a consensus rating of "Moderate Buy" and an average price target of $6.00.

Ultrapar Participacoes Trading Up 3.5%

Shares of NYSE UGP opened at $6.11 on Friday. Ultrapar Participacoes has a 1-year low of $2.80 and a 1-year high of $6.16. The company has a market cap of $6.81 billion, a PE ratio of 15.26, a P/E/G ratio of 1.10 and a beta of 0.77. The company has a current ratio of 1.62, a quick ratio of 1.26 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average of $5.48 and a two-hundred day moving average of $4.68.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) last announced its earnings results on Saturday, February 14th. The oil and gas company reported $0.05 earnings per share for the quarter. The company had revenue of $6.19 billion during the quarter. Ultrapar Participacoes had a net margin of 1.72% and a return on equity of 14.11%. As a group, equities analysts expect that Ultrapar Participacoes will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ultrapar Participacoes

Several large investors have recently bought and sold shares of UGP. Caitong International Asset Management Co. Ltd bought a new stake in Ultrapar Participacoes in the fourth quarter valued at approximately $32,000. SG Americas Securities LLC bought a new stake in Ultrapar Participacoes in the fourth quarter valued at approximately $44,000. GeoWealth Management LLC bought a new stake in Ultrapar Participacoes in the fourth quarter valued at approximately $44,000. EP Wealth Advisors LLC bought a new stake in Ultrapar Participacoes in the fourth quarter valued at approximately $45,000. Finally, Boothbay Fund Management LLC bought a new stake in Ultrapar Participacoes in the fourth quarter valued at approximately $47,000. Institutional investors own 3.58% of the company's stock.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil's largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.

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