Ultrapar Participacoes S.A. (NYSE:UGP) was downgraded by equities research analysts at HSBC Holdings plc from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, The Fly reports.

Other analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Ultrapar Participacoes from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Investment Research downgraded shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. Finally, Citigroup Inc. downgraded shares of Ultrapar Participacoes from a “buy” rating to a “neutral” rating in a report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.00.

Ultrapar Participacoes (NYSE:UGP) traded down 1.04% on Tuesday, hitting $22.75. 129,309 shares of the stock traded hands. The firm has a market capitalization of $12.36 billion, a PE ratio of 25.11 and a beta of 1.12. Ultrapar Participacoes has a 52 week low of $18.38 and a 52 week high of $24.78. The stock has a 50 day moving average of $23.48 and a 200 day moving average of $22.56.

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Several hedge funds have recently made changes to their positions in UGP. PNC Financial Services Group Inc. increased its stake in Ultrapar Participacoes by 13.2% in the first quarter. PNC Financial Services Group Inc. now owns 6,695 shares of the oil and gas company’s stock worth $151,000 after buying an additional 782 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Ultrapar Participacoes by 5.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,938 shares of the oil and gas company’s stock worth $180,000 after buying an additional 400 shares during the period. Wetherby Asset Management Inc. bought a new stake in Ultrapar Participacoes during the first quarter worth about $215,000. Ameriprise Financial Inc. increased its stake in Ultrapar Participacoes by 33.7% in the first quarter. Ameriprise Financial Inc. now owns 13,024 shares of the oil and gas company’s stock worth $296,000 after buying an additional 3,280 shares during the period. Finally, Airain ltd bought a new stake in Ultrapar Participacoes during the first quarter worth about $304,000. Institutional investors own 4.28% of the company’s stock.

About Ultrapar Participacoes

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