Ultrapar Participações (NYSE:UGP) Rating Increased to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Ultrapar Participações (NYSE:UGP) from a neutral rating to a buy rating in a report issued on Friday morning, Marketbeat Ratings reports. They currently have $3.20 target price on the oil and gas company’s stock, down from their prior target price of $4.10.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. StockNews.com cut shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. HSBC upgraded Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Scotiabank raised Ultrapar Participações to a “hold” rating in a research report on Friday, December 27th. Finally, Hsbc Global Res raised shares of Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $3.20.

Ultrapar Participações Price Performance

NYSE:UGP opened at $2.85 on Friday. Ultrapar Participações has a 52-week low of $2.53 and a 52-week high of $6.34. The company has a market cap of $3.18 billion, a P/E ratio of 6.19, a P/E/G ratio of 2.50 and a beta of 1.52. 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 stock’s 50-day simple moving average is $2.79 and its 200 day simple moving average is $3.52.

Institutional Investors Weigh In On Ultrapar Participações

Institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. raised its position in shares of Ultrapar Participações by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,811,400 shares of the oil and gas company’s stock worth $4,764,000 after acquiring an additional 115,600 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Ultrapar Participações during the third quarter valued at approximately $1,595,000. Dimensional Fund Advisors LP grew its stake in shares of Ultrapar Participações by 16.6% during the 2nd 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 during the period. Ritholtz Wealth Management raised its position in Ultrapar Participações by 54.0% in the third quarter. Ritholtz Wealth Management now owns 283,247 shares of the oil and gas company’s stock worth $1,099,000 after acquiring an additional 99,324 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Ultrapar Participações by 6.6% in the third quarter. The Manufacturers Life Insurance Company now owns 251,203 shares of the oil and gas company’s stock worth $975,000 after buying an additional 15,517 shares during the period. Hedge funds and other institutional investors own 3.58% of the company’s stock.

About Ultrapar Participações

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.