The Goldman Sachs Group Has Lowered Expectations for Ultrapar Participações (NYSE:UGP) Stock Price

Ultrapar Participações (NYSE:UGP) had its price target cut by equities researchers at The Goldman Sachs Group from $4.80 to $4.10 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 54.43% from the stock’s previous close.

Several other brokerages have also recently weighed in on UGP. StockNews.com cut shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a research report on Friday, December 27th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.10.

Ultrapar Participações Stock Performance

UGP opened at $2.66 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 5.77, a P/E/G ratio of 2.17 and a beta of 1.52. The business’s 50-day moving average price is $2.90 and its two-hundred day moving average price is $3.61. Ultrapar Participações has a 1 year low of $2.53 and a 1 year high of $6.34.

Hedge Funds Weigh In On Ultrapar Participações

Institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new stake in Ultrapar Participações in the third quarter valued at $46,000. Freedom Investment Management Inc. acquired a new stake in Ultrapar Participações in the 3rd quarter valued at about $48,000. Signaturefd LLC grew its holdings in Ultrapar Participações by 67.9% during the third quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 6,476 shares during the period. PDS Planning Inc grew its holdings in Ultrapar Participações by 90.2% during the third quarter. PDS Planning Inc now owns 21,408 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 10,153 shares during the period. Finally, Blue Trust Inc. raised its stake 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 buying an additional 17,291 shares during the period. 3.58% of the stock is currently owned by institutional investors and hedge funds.

About Ultrapar Participações

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.