Ultrapar Participações (NYSE:UGP) Shares Gap Down – Time to Sell?

Ultrapar Participações S.A. (NYSE:UGP) gapped down prior to trading on Friday . The stock had previously closed at $2.72, but opened at $2.60. Ultrapar Participações shares last traded at $2.59, with a volume of 87,562 shares.

Wall Street Analyst Weigh In

A number of research analysts have commented on UGP shares. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research report on Tuesday. StockNews.com cut Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Scotiabank upgraded shares of Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Ultrapar Participações currently has a consensus rating of “Hold” and a consensus target price of $5.20.

Ultrapar Participações Price Performance

The firm has a 50-day moving average of $3.02 and a 200 day moving average of $3.67. 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 $2.87 billion, a PE ratio of 5.59, a PEG ratio of 2.21 and a beta of 1.52.

Institutional Trading of Ultrapar Participações

Large investors have recently modified their holdings of the company. Marshall Wace LLP grew its position in shares of 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 valued at $5,591,000 after acquiring an additional 1,099,433 shares during the period. Renaissance Technologies LLC grew its holdings in Ultrapar Participações by 57.9% during the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after purchasing an additional 898,600 shares during the period. Point72 Asset Management L.P. purchased a new stake in Ultrapar Participações in the third quarter worth about $1,595,000. Virtu Financial LLC bought a new position in shares of Ultrapar Participações in the third quarter worth about $452,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Ultrapar Participações by 194.7% in the third quarter. JPMorgan Chase & Co. now owns 159,142 shares of the oil and gas company’s stock worth $617,000 after buying an additional 105,133 shares during the period. 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.