Zacks Investment Research Upgrades Ultrapar Participacoes (UGP) to Hold

Ultrapar Participacoes (NYSE:UGP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

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) “

UGP has been the subject of a number of other reports. Goldman Sachs Group raised Ultrapar Participacoes from a “neutral” rating to a “buy” rating in a research report on Thursday, August 16th. UBS Group downgraded Ultrapar Participacoes from a “buy” rating to a “neutral” rating in a research report on Friday, August 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.00.

Shares of NYSE UGP traded down $0.29 during trading on Friday, hitting $12.22. 1,152,433 shares of the company were exchanged, compared to its average volume of 856,887. Ultrapar Participacoes has a 12-month low of $8.86 and a 12-month high of $26.48. The company has a quick ratio of 1.88, a current ratio of 2.35 and a debt-to-equity ratio of 1.25. The firm has a market cap of $6.96 billion, a PE ratio of 13.43, a P/E/G ratio of 5.18 and a beta of 0.49.

Ultrapar Participacoes (NYSE:UGP) last posted its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported $0.15 EPS for the quarter. Ultrapar Participacoes had a return on equity of 10.78% and a net margin of 1.17%. The business had revenue of $6.05 billion for the quarter. Research analysts expect that Ultrapar Participacoes will post 0.56 EPS for the current year.

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of Ultrapar Participacoes by 8.3% during the 3rd quarter. Renaissance Technologies LLC now owns 3,579,915 shares of the oil and gas company’s stock worth $33,150,000 after purchasing an additional 274,615 shares during the last quarter. Morgan Stanley grew its position in Ultrapar Participacoes by 49.9% in the 3rd quarter. Morgan Stanley now owns 1,118,871 shares of the oil and gas company’s stock valued at $10,360,000 after acquiring an additional 372,429 shares in the last quarter. Northern Trust Corp grew its position in Ultrapar Participacoes by 2.6% in the 2nd quarter. Northern Trust Corp now owns 711,859 shares of the oil and gas company’s stock valued at $8,428,000 after acquiring an additional 18,235 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Ultrapar Participacoes by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 538,514 shares of the oil and gas company’s stock valued at $4,996,000 after acquiring an additional 15,533 shares in the last quarter. Finally, Aperio Group LLC grew its position in Ultrapar Participacoes by 14.4% in the 3rd quarter. Aperio Group LLC now owns 248,653 shares of the oil and gas company’s stock valued at $2,303,000 after acquiring an additional 31,216 shares in the last quarter. 4.88% of the stock is owned by hedge funds and other institutional investors.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA engages in gas distribution, fuel distribution, chemicals, storage, and drugstores businesses in Brazil, Mexico, United Stated, Uruguay, and Venezuela. 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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