Ultrapar Participacoes S.A. (NYSE:UGP) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Ultrapar Participacoes (NYSE:UGP) now carries a consensus analyst rating of “Moderate Buy” from eight brokerages, with an average 12-month price target of $6.32.
• Recent analyst actions were mixed but mostly constructive: Bank of America upgraded the stock to buy and raised its target to $7.40, while UBS also lifted its target and kept a buy rating. HSBC was more cautious, downgrading the shares to hold.
• The stock was trading at $6.08, near its 52-week high of $6.20, and the company showed a solid balance sheet with a quick ratio of 1.30 and current ratio of 1.67.

Shares of Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $6.32.

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Ultrapar Participacoes in a research report on Monday, June 8th. Bank of America upgraded shares of Ultrapar Participacoes from a "neutral" rating to a "buy" rating and upped their price target for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. Wall Street Zen raised Ultrapar Participacoes from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. HSBC cut Ultrapar Participacoes from a "buy" rating to a "hold" rating and upped their target price for the stock from $4.90 to $6.00 in a report on Wednesday, April 8th. Finally, UBS Group lifted their price target on Ultrapar Participacoes from $7.00 to $7.20 and gave the company a "buy" rating in a research note on Wednesday, June 17th.

Ultrapar Participacoes Stock Up 2.3%

UGP stock opened at $6.08 on Thursday. Ultrapar Participacoes has a 52 week low of $2.80 and a 52 week high of $6.20. The company has a quick ratio of 1.30, a current ratio of 1.67 and a debt-to-equity ratio of 0.89. The business has a 50-day simple moving average of $5.33 and a 200 day simple moving average of $5.14. The company has a market cap of $6.78 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71.

Hedge Funds Weigh In On Ultrapar Participacoes

Several large investors have recently modified their holdings of UGP. Hennion & Walsh Asset Management Inc. grew its stake in shares of Ultrapar Participacoes by 233.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 63,803 shares of the oil and gas company's stock worth $320,000 after purchasing an additional 44,645 shares during the last quarter. Optiver Holding B.V. lifted its holdings in Ultrapar Participacoes by 3.0% during the 1st quarter. Optiver Holding B.V. now owns 453,455 shares of the oil and gas company's stock worth $2,499,000 after buying an additional 13,203 shares during the period. Parvin Asset Management LLC lifted its holdings in Ultrapar Participacoes by 11.6% during the 1st quarter. Parvin Asset Management LLC now owns 185,750 shares of the oil and gas company's stock worth $1,023,000 after buying an additional 19,350 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Ultrapar Participacoes by 45.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company's stock valued at $35,000 after buying an additional 1,982 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Ultrapar Participacoes by 165.5% in the 1st quarter. Royal Bank of Canada now owns 12,390 shares of the oil and gas company's stock valued at $68,000 after buying an additional 7,724 shares during the last quarter. 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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