Ultrapar Participacoes (NYSE:UGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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) “

Shares of Ultrapar Participacoes (NYSE UGP) traded up $0.07 during trading hours on Friday, reaching $24.05. 600,756 shares of the company’s stock traded hands, compared to its average volume of 435,089. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.98 and a current ratio of 2.51. Ultrapar Participacoes has a 1 year low of $20.09 and a 1 year high of $25.39. The company has a market cap of $13,270.00, a P/E ratio of 26.43 and a beta of 1.05.

A number of large investors have recently made changes to their positions in the business. Boston Common Asset Management LLC boosted its holdings in Ultrapar Participacoes by 4.6% in the 2nd quarter. Boston Common Asset Management LLC now owns 15,450 shares of the oil and gas company’s stock valued at $364,000 after purchasing an additional 680 shares during the period. Advisor Group Inc. lifted its holdings in shares of Ultrapar Participacoes by 30.7% during the 2nd quarter. Advisor Group Inc. now owns 4,331 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 1,018 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Ultrapar Participacoes by 41.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,758 shares of the oil and gas company’s stock worth $256,000 after acquiring an additional 3,126 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Ultrapar Participacoes by 2.1% during the 3rd quarter. Aperio Group LLC now owns 160,810 shares of the oil and gas company’s stock worth $3,830,000 after acquiring an additional 3,287 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Ultrapar Participacoes by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 16,434 shares of the oil and gas company’s stock worth $387,000 after acquiring an additional 3,410 shares during the last quarter. 4.38% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Ultrapar Participacoes (UGP) Lowered to “Hold” at Zacks Investment Research” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/12/ultrapar-participacoes-ugp-lowered-to-hold-at-zacks-investment-research.html.

Ultrapar Participacoes Company Profile

Get a free copy of the Zacks research report on Ultrapar Participacoes (UGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ultrapar Participacoes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultrapar Participacoes and related companies with MarketBeat.com's FREE daily email newsletter.