Ultrapar Participacoes S.A. (NYSE:UGP – Get Free Report) saw a large decrease in short interest in June. As of June 30th, there was short interest totaling 682,915 shares, a decrease of 59.2% from the June 15th total of 1,675,114 shares. Based on an average daily volume of 2,667,540 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are sold short.
Ultrapar Participacoes Stock Down 0.9%
UGP stock traded down $0.06 during trading on Tuesday, reaching $5.95. 17,500,566 shares of the stock were exchanged, compared to its average volume of 2,885,511. The firm’s 50 day moving average is $5.33 and its 200 day moving average is $5.11. The firm has a market cap of $6.63 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The company has a current ratio of 1.67, a quick ratio of 1.30 and a debt-to-equity ratio of 0.89. Ultrapar Participacoes has a twelve month low of $2.80 and a twelve month high of $6.20.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. HSBC cut Ultrapar Participacoes from a “buy” rating to a “hold” rating and raised their target price for the stock from $4.90 to $6.00 in a research note on Wednesday, April 8th. UBS Group increased their price target on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Bank of America raised shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $6.80 to $7.40 in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Ultrapar Participacoes presently has an average rating of “Moderate Buy” and a consensus target price of $6.32.
Hedge Funds Weigh In On Ultrapar Participacoes
A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Ultrapar Participacoes by 117.4% during the third quarter. JPMorgan Chase & Co. now owns 4,084,186 shares of the oil and gas company’s stock worth $16,745,000 after buying an additional 2,205,282 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Ultrapar Participacoes during the third quarter valued at about $14,639,000. Kapitalo Investimentos Ltda increased its position in shares of Ultrapar Participacoes by 350.7% during the fourth quarter. Kapitalo Investimentos Ltda now owns 874,882 shares of the oil and gas company’s stock worth $3,298,000 after acquiring an additional 680,782 shares in the last quarter. Banco BTG Pactual S.A. bought a new stake in shares of Ultrapar Participacoes during the fourth quarter worth about $2,631,000. Finally, Capital Innovations LLC acquired a new stake in shares of Ultrapar Participacoes in the 4th quarter worth about $1,528,000. 3.58% of the stock is owned by institutional investors and hedge funds.
About Ultrapar Participacoes
Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.
In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.
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