Ultrapar Participações (NYSE:UGP) Shares Gap Up – What’s Next?

Ultrapar Participações S.A. (NYSE:UGP)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.17, but opened at $3.26. Ultrapar Participações shares last traded at $3.25, with a volume of 80,189 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.20.

Ultrapar Participações Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average price of $3.65 and a two-hundred day moving average price of $4.03. The stock has a market capitalization of $3.41 billion, a P/E ratio of 6.65, a P/E/G ratio of 2.50 and a beta of 1.61.

Hedge Funds Weigh In On Ultrapar Participações

Several institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its holdings in shares of Ultrapar Participações by 8.4% during the second quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock valued at $14,713,000 after acquiring an additional 293,036 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Ultrapar Participações by 57.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock worth $9,581,000 after buying an additional 898,600 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Ultrapar Participações in the 2nd quarter worth about $5,887,000. Marshall Wace LLP increased its holdings in Ultrapar Participações by 332.6% in the 2nd 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 in the last quarter. Finally, Longfellow Investment Management Co. LLC increased its holdings in Ultrapar Participações by 27.3% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock worth $1,726,000 after buying an additional 94,761 shares in the last quarter. 3.58% of the stock is currently owned by 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.