Ultrapar Participações (NYSE:UGP) Shares Gap Up – Still a Buy?

Ultrapar Participações S.A. (NYSE:UGP)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.17, but opened at $3.26. Ultrapar Participações shares last traded at $3.25, with a volume of 80,189 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.20.

Ultrapar Participações Stock Performance

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 firm’s fifty day moving average price is $3.69 and its 200-day moving average price is $4.05. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 2.50 and a beta of 1.61.

Institutional Trading of Ultrapar Participações

Several institutional investors and hedge funds have recently added to or reduced their stakes in UGP. Acadian Asset Management LLC boosted its holdings in shares of Ultrapar Participações by 8.4% in the second quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock valued at $14,713,000 after acquiring an additional 293,036 shares in the last quarter. Renaissance Technologies LLC lifted its position in Ultrapar Participações by 57.9% in 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. Hennessy Advisors Inc. purchased a new stake in Ultrapar Participações in the 2nd quarter valued at approximately $5,887,000. Marshall Wace LLP increased 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. Finally, Longfellow Investment Management Co. LLC raised its stake in shares of Ultrapar Participações by 27.3% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock worth $1,726,000 after buying an additional 94,761 shares in the last quarter. 3.58% of the stock is 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.