The Goldman Sachs Group Cuts Ultrapar Participações (NYSE:UGP) Price Target to $4.10

Ultrapar Participações (NYSE:UGP) had its target price cut by The Goldman Sachs Group from $4.80 to $4.10 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

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

Ultrapar Participações Stock Performance

Shares of NYSE UGP opened at $2.69 on Thursday. The company has a 50-day simple moving average of $2.92 and a 200-day simple moving average of $3.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11. The company has a market cap of $2.99 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52. Ultrapar Participações has a 12 month low of $2.53 and a 12 month high of $6.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UGP. Dimensional Fund Advisors LP raised its holdings in shares of Ultrapar Participações by 16.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 303,436 shares of the oil and gas company’s stock worth $1,187,000 after purchasing an additional 43,258 shares during the period. Renaissance Technologies LLC raised its holdings in Ultrapar Participações by 57.9% in the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after buying an additional 898,600 shares during the period. XTX Topco Ltd lifted its position 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 valued at $261,000 after buying an additional 37,436 shares in the last quarter. Marshall Wace LLP grew its stake 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 buying an additional 1,099,433 shares during the period. Finally, Aprio Wealth Management LLC raised its stake in shares of Ultrapar Participações by 63.9% in the 3rd quarter. Aprio Wealth Management LLC now owns 43,516 shares of the oil and gas company’s stock valued at $169,000 after acquiring an additional 16,967 shares during the period. Institutional investors and hedge funds own 3.58% of the company’s stock.

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.