Ultrapar Participações (NYSE:UGP) Upgraded to Strong-Buy at Hsbc Global Res

Ultrapar Participações (NYSE:UGP) was upgraded by investment analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. HSBC upgraded Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group decreased their price target on Ultrapar Participações from $4.80 to $4.10 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com downgraded Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Scotiabank upgraded Ultrapar Participações to a “hold” rating in a research report on Friday, December 27th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $4.10.

Ultrapar Participações Stock Down 1.3 %

UGP stock opened at $2.66 on Friday. Ultrapar Participações has a 52 week low of $2.53 and a 52 week high of $6.34. The business has a 50-day simple moving average of $2.90 and a 200 day simple moving average of $3.61. 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 company has a market cap of $2.96 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52.

Hedge Funds Weigh In On Ultrapar Participações

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in Ultrapar Participações by 71.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 67,914 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 28,379 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Ultrapar Participações during the third quarter valued at $1,595,000. Creative Planning lifted its holdings in shares of Ultrapar Participações by 45.2% during the third quarter. Creative Planning now owns 55,980 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 17,430 shares during the period. Walleye Capital LLC grew its stake in shares of Ultrapar Participações by 41.5% in the third quarter. Walleye Capital LLC now owns 36,299 shares of the oil and gas company’s stock worth $141,000 after purchasing an additional 10,654 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Ultrapar Participações by 332.6% in the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock valued at $5,591,000 after purchasing an additional 1,099,433 shares during the period. 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.