Ultrapar Participacoes (NYSE:UGP) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Ultrapar Participacoes has been upgraded to a "strong-buy" rating by Zacks Research, indicating a positive outlook among analysts.
• The stock's target price has been increased from $4.00 to $4.50 by Goldman Sachs, reflecting growing confidence in the company's performance.
• Significant institutional investments have been made in Ultrapar, with JPMorgan Chase & Co. increasing its holdings by 75.2% during the second quarter.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Ultrapar Participacoes from $4.00 to $4.50 and gave the stock a "buy" rating in a research note on Friday, September 26th. Wall Street Zen upgraded shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Finally, Scotiabank upgraded shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Strong Buy" and a consensus price target of $4.50.

Ultrapar Participacoes Stock Up 0.6%

UGP stock opened at $4.11 on Monday. The stock has a market capitalization of $4.58 billion, a P/E ratio of 9.12, a PEG ratio of 2.12 and a beta of 1.11. 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 one year low of $2.53 and a one year high of $4.16. The company has a 50 day moving average price of $3.49 and a two-hundred day moving average price of $3.21.

Hedge Funds Weigh In On Ultrapar Participacoes

Several hedge funds and other institutional investors have recently made changes to their positions in UGP. JPMorgan Chase & Co. lifted its holdings in shares of Ultrapar Participacoes by 75.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,878,904 shares of the oil and gas company's stock valued at $6,163,000 after acquiring an additional 806,463 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Ultrapar Participacoes by 42.4% during the 2nd quarter. American Century Companies Inc. now owns 2,695,322 shares of the oil and gas company's stock valued at $8,841,000 after acquiring an additional 803,065 shares in the last quarter. Polunin Capital Partners Ltd lifted its holdings in shares of Ultrapar Participacoes by 8.9% during the 2nd quarter. Polunin Capital Partners Ltd now owns 9,457,242 shares of the oil and gas company's stock valued at $31,398,000 after acquiring an additional 776,808 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Ultrapar Participacoes by 1,248.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 497,253 shares of the oil and gas company's stock worth $1,631,000 after buying an additional 460,388 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Ultrapar Participacoes by 162.2% in the 4th quarter. Wellington Management Group LLP now owns 599,642 shares of the oil and gas company's stock worth $1,577,000 after buying an additional 370,960 shares in the last quarter. Institutional investors and hedge funds own 3.58% of the company's stock.

About Ultrapar Participacoes

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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