Ultrapar Participacoes S.A. (NYSE:UGP) Given Average Rating of "Buy" by Brokerages

Key Points

• Ultrapar Participacoes S.A. has received an average analyst recommendation of "Buy", with four analysts issuing buy ratings and one a strong buy rating.
• Scotiabank recently upgraded the company's stock from "sector perform" to "sector outperform", indicating positive sentiment among analysts.
• The stock has a current price of $3.05, with a 12-month target price estimated at $3.20 and a market cap of $3.40 billion.

Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) has received an average rating of "Buy" from the five brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $3.20.

Several research analysts have issued reports on UGP shares. Scotiabank upgraded Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research report on Monday. Wall Street Zen lowered Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th.

Ultrapar Participacoes Trading Up 0.3%

UGP traded up $0.01 on Tuesday, hitting $3.11. The company had a trading volume of 3,608,889 shares, compared to its average volume of 1,898,124. The company has a market cap of $3.47 billion, a PE ratio of 8.64, a PEG ratio of 3.07 and a beta of 1.06. Ultrapar Participacoes has a 12-month low of $2.53 and a 12-month high of $4.51. The company has a quick ratio of 1.26, a current ratio of 1.76 and a debt-to-equity ratio of 0.76. The business's fifty day simple moving average is $3.07 and its 200 day simple moving average is $2.98.

Institutional Trading of Ultrapar Participacoes

A number of large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in Ultrapar Participacoes by 61.3% in the first quarter. Sequoia Financial Advisors LLC now owns 52,395 shares of the oil and gas company's stock worth $161,000 after buying an additional 19,918 shares in the last quarter. GAMMA Investing LLC raised its stake in Ultrapar Participacoes by 92.9% in the first quarter. GAMMA Investing LLC now owns 17,413 shares of the oil and gas company's stock worth $54,000 after buying an additional 8,388 shares in the last quarter. Jane Street Group LLC increased its position in shares of Ultrapar Participacoes by 200.9% during the fourth quarter. Jane Street Group LLC now owns 146,591 shares of the oil and gas company's stock worth $386,000 after purchasing an additional 97,879 shares in the last quarter. Bank of America Corp DE increased its position in shares of Ultrapar Participacoes by 33.5% during the fourth quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company's stock worth $2,594,000 after purchasing an additional 247,755 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ultrapar Participacoes by 763.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company's stock worth $3,616,000 after purchasing an additional 1,215,605 shares in the last quarter. Hedge funds and other institutional investors 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.