Ultrapar Participacoes (NYSE:UGP) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Ultrapar Participacoes (NYSE:UGP) from a sell rating to a hold rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “Ultrapar Participacoes S.A., a major Brazilian industrial group, is one of the largest distributors of liquefied petroleum gas in Brazil and a leading producer of petrochemicals and chemical. Ultrapar is also engaged in the storage and transportation of liquefied petroleum gas and petrochemical and chemical products. (PRESS RELEASE) “

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Ultrapar Participacoes from $5.50 to $5.00 and set a neutral rating on the stock in a report on Tuesday, September 3rd. Santander cut shares of Ultrapar Participacoes from a buy rating to a hold rating in a report on Tuesday, August 27th. Goldman Sachs Group assumed coverage on shares of Ultrapar Participacoes in a report on Thursday, October 3rd. They issued a neutral rating and a $4.70 price target on the stock. Bradesco Corretora raised shares of Ultrapar Participacoes from a neutral rating to an outperform rating in a report on Tuesday, July 23rd. Finally, ValuEngine raised shares of Ultrapar Participacoes from a strong sell rating to a sell rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $9.23.

NYSE:UGP opened at $4.76 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.37 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $5.21 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.53 and a beta of 0.24. The firm’s 50 day moving average is $4.49 and its 200 day moving average is $5.60. Ultrapar Participacoes has a 12 month low of $3.61 and a 12 month high of $7.90.

Ultrapar Participacoes (NYSE:UGP) last posted its quarterly earnings results on Wednesday, August 14th. The oil and gas company reported $0.03 EPS for the quarter. The company had revenue of $5.53 billion for the quarter. Ultrapar Participacoes had a net margin of 1.32% and a return on equity of 11.93%. Research analysts predict that Ultrapar Participacoes will post 0.27 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. World Asset Management Inc raised its stake in shares of Ultrapar Participacoes by 30.7% during the third quarter. World Asset Management Inc now owns 13,454 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 3,158 shares during the last quarter. Advisor Partners LLC raised its stake in shares of Ultrapar Participacoes by 20.8% during the third quarter. Advisor Partners LLC now owns 23,362 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 4,026 shares during the last quarter. Exane Derivatives raised its stake in shares of Ultrapar Participacoes by 40.1% during the third quarter. Exane Derivatives now owns 384,581 shares of the oil and gas company’s stock valued at $1,719,000 after acquiring an additional 110,000 shares during the last quarter. Atria Investments LLC bought a new position in shares of Ultrapar Participacoes during the second quarter valued at about $4,452,000. Finally, Royal Bank of Canada raised its stake in shares of Ultrapar Participacoes by 212.3% during the second quarter. Royal Bank of Canada now owns 13,739 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 9,339 shares during the last quarter. 3.38% of the stock is currently owned by institutional investors and hedge funds.

About Ultrapar Participacoes

Ultrapar Participações SA engages in the gas distribution, fuel distribution, chemicals, storage, and drugstores businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. The company's Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers, as well as independent dealers primarily in the South, Southeast, and Northeast regions of Brazil.

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