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

Ultrapar Participações S.A. (NYSE:UGP) gapped up prior to trading on Tuesday . The stock had previously closed at $2.88, but opened at $2.97. Ultrapar Participações shares last traded at $2.95, with a volume of 31,960 shares.

Analysts Set New Price Targets

Several analysts have commented on UGP shares. The Goldman Sachs Group raised Ultrapar Participações from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $4.10 to $3.20 in a report on Friday, January 31st. Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. Hsbc Global Res upgraded Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. HSBC raised Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. upgraded Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.20.

Ultrapar Participações Trading Up 1.9 %

The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $2.76 and a two-hundred day moving average price of $3.46. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 6.38, a PEG ratio of 2.52 and a beta of 1.52.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management increased its position in Ultrapar Participações by 54.0% during the third quarter. Ritholtz Wealth Management now owns 283,247 shares of the oil and gas company’s stock worth $1,099,000 after purchasing an additional 99,324 shares during the last quarter. Creative Planning grew its stake in shares of Ultrapar Participações by 45.2% in the 3rd quarter. Creative Planning now owns 55,980 shares of the oil and gas company’s stock valued at $217,000 after buying an additional 17,430 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Ultrapar Participações by 85.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 65,295 shares of the oil and gas company’s stock worth $253,000 after buying an additional 30,096 shares during the last quarter. Inspire Advisors LLC raised its position in shares of Ultrapar Participações by 33.7% during the 3rd quarter. Inspire Advisors LLC now owns 38,838 shares of the oil and gas company’s stock valued at $151,000 after buying an additional 9,794 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Ultrapar Participações by 109.2% in the third quarter. Blue Trust Inc. now owns 33,124 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 17,291 shares during the last quarter. Hedge funds and other institutional investors own 3.58% of the company’s stock.

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.