Ultrapar Participações (NYSE:UGP) Shares Down 4.3% After Analyst Downgrade

Shares of Ultrapar Participações S.A. (NYSE:UGP) were down 4.3% during mid-day trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $4.80 to $4.10. The Goldman Sachs Group currently has a neutral rating on the stock. Ultrapar Participações traded as low as $2.65 and last traded at $2.65. Approximately 213,690 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,404,838 shares. The stock had previously closed at $2.77.

Other equities research analysts have also recently issued reports about the company. Scotiabank upgraded Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. JPMorgan Chase & Co. upgraded Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Finally, StockNews.com cut Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.10.

Institutional Investors Weigh In On Ultrapar Participações

A number of hedge funds and other institutional investors have recently modified their holdings of UGP. Dimensional Fund Advisors LP raised its stake in shares of Ultrapar Participações by 16.6% during the second quarter. Dimensional Fund Advisors LP now owns 303,436 shares of the oil and gas company’s stock valued at $1,187,000 after purchasing an additional 43,258 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Ultrapar Participações by 57.9% during the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock worth $9,581,000 after acquiring an additional 898,600 shares during the period. XTX Topco Ltd grew its holdings in Ultrapar Participações by 128.2% during the second quarter. XTX Topco Ltd now owns 66,631 shares of the oil and gas company’s stock worth $261,000 after acquiring an additional 37,436 shares during the period. Marshall Wace LLP grew its holdings in Ultrapar Participações by 332.6% during the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after acquiring an additional 1,099,433 shares during the period. Finally, Aprio Wealth Management LLC grew its holdings in Ultrapar Participações by 63.9% during the third quarter. Aprio Wealth Management LLC now owns 43,516 shares of the oil and gas company’s stock worth $169,000 after acquiring an additional 16,967 shares during the period. 3.58% of the stock is currently owned by institutional investors.

Ultrapar Participações Trading Down 4.3 %

The business has a fifty day moving average of $2.94 and a 200-day moving average of $3.63. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 5.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11.

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.