Ultrapar Participações (NYSE:UGP) Shares Gap Down - What's Next?

Ultrapar Participações S.A. (NYSE:UGP - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $3.03, but opened at $2.95. Ultrapar Participações shares last traded at $2.96, with a volume of 30,758 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $3.20.

Ultrapar Participações Stock Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. The firm has a market capitalization of $3.17 billion, a PE ratio of 6.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.13. The business's fifty day simple moving average is $3.01 and its 200-day simple moving average is $2.92.

Institutional Investors Weigh In On Ultrapar Participações

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Ultrapar Participações during the fourth quarter worth $374,000. QRG Capital Management Inc. increased its position in Ultrapar Participações by 38.1% during the fourth quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company's stock worth $54,000 after buying an additional 5,687 shares during the period. JPMorgan Chase & Co. boosted its stake in Ultrapar Participações by 763.8% during the 4th 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 during the period. Russell Investments Group Ltd. acquired a new position in Ultrapar Participações in the 4th quarter valued at about $288,000. Finally, Blue Trust Inc. lifted its holdings in shares of Ultrapar Participações by 72.4% during the fourth quarter. Blue Trust Inc. now owns 57,100 shares of the oil and gas company's stock worth $150,000 after purchasing an additional 23,976 shares during the period. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

Ultrapar Participações 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.