Ultrapar Participacoes S.A. (NYSE:UGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $27.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.57% from the company’s current price.

According to Zacks, “Ultrapar Participacoes S.A., a major Brazilian industrial group, is one of the largest distributors of liquefied petroleum gas in Brazil and a leading producer of petrochemicals and chemical. Ultrapar is also engaged in the storage and transportation of liquefied petroleum gas and petrochemical and chemical products. (PRESS RELEASE) “

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating in a report on Friday, July 28th. HSBC Holdings plc lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Bank of America Corporation lowered shares of Ultrapar Participacoes from a “neutral” rating to an “underperform” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Ultrapar Participacoes presently has an average rating of “Hold” and an average price target of $27.00.

Ultrapar Participacoes (UGP) traded down 0.12% during trading on Wednesday, hitting $24.17. 184,315 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $24.03 and its 200 day moving average price is $23.34. The stock has a market cap of $13.45 billion, a P/E ratio of 27.47 and a beta of 1.13. Ultrapar Participacoes has a 12-month low of $18.38 and a 12-month high of $25.39.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Charlemagne Capital Ltd. boosted its holdings in shares of Ultrapar Participacoes by 1.2% in the 4th quarter. Charlemagne Capital Ltd. now owns 12,048 shares of the oil and gas company’s stock valued at $249,000 after buying an additional 148 shares during the period. State Street Corp boosted its holdings in shares of Ultrapar Participacoes by 10.2% in the 1st quarter. State Street Corp now owns 858,982 shares of the oil and gas company’s stock valued at $16,561,000 after buying an additional 79,176 shares during the period. Legal & General Group Plc boosted its holdings in shares of Ultrapar Participacoes by 10.1% in the 1st quarter. Legal & General Group Plc now owns 27,627 shares of the oil and gas company’s stock valued at $532,000 after buying an additional 2,529 shares during the period. Aberdeen Asset Management PLC UK boosted its holdings in shares of Ultrapar Participacoes by 116.0% in the 4th quarter. Aberdeen Asset Management PLC UK now owns 3,939,817 shares of the oil and gas company’s stock valued at $81,711,000 after buying an additional 2,115,819 shares during the period. Finally, Acadian Asset Management boosted its holdings in shares of Ultrapar Participacoes by 34.3% in the 4th quarter. Acadian Asset Management now owns 391,112 shares of the oil and gas company’s stock valued at $5,964,000 after buying an additional 99,844 shares during the period. 3.97% of the stock is owned by institutional investors and hedge funds.

About Ultrapar Participacoes

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