Ultrapar Participações (NYSE:UGP) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Ultrapar Participações (NYSE:UGP) from a hold rating to a strong-buy rating in a report released on Friday morning,Zacks.com reports.

UGP has been the subject of several other reports. StockNews.com lowered shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. HSBC raised shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday. The Goldman Sachs Group lowered their price objective on Ultrapar Participações from $4.80 to $4.10 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, Scotiabank raised Ultrapar Participações to a “hold” rating in a report on Friday, December 27th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ultrapar Participações presently has an average rating of “Moderate Buy” and an average target price of $4.10.

Ultrapar Participações Trading Down 1.3 %

UGP opened at $2.66 on Friday. Ultrapar Participações has a 12 month low of $2.53 and a 12 month high of $6.34. The stock has a fifty day moving average price of $2.90 and a 200-day moving average price of $3.61. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 2.17 and a beta of 1.52. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP grew its position in Ultrapar Participações by 332.6% during the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after purchasing an additional 1,099,433 shares during the period. Renaissance Technologies LLC boosted its position in Ultrapar Participações by 57.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock worth $9,581,000 after purchasing an additional 898,600 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Ultrapar Participações during the 3rd quarter worth approximately $1,595,000. SG Americas Securities LLC purchased a new position in shares of Ultrapar Participações during the 4th quarter valued at approximately $374,000. Finally, Virtu Financial LLC purchased a new position in shares of Ultrapar Participações during the 3rd quarter valued at approximately $452,000. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

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.