Ultrapar Participacoes (NYSE:UGP) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Ultrapar Participacoes S.A. (NYSE:UGP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.05 and traded as high as $5.49. Ultrapar Participacoes shares last traded at $5.4460, with a volume of 3,019,792 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UGP shares. Jefferies Financial Group raised shares of Ultrapar Participacoes from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $3.10 to $5.60 in a report on Friday, March 13th. UBS Group lifted their target price on shares of Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Bank of America boosted their target price on shares of Ultrapar Participacoes from $6.30 to $6.80 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. HSBC cut Ultrapar Participacoes from a “buy” rating to a “hold” rating and increased their price target for the company from $4.90 to $6.00 in a report on Wednesday, April 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research note on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $6.20.

Ultrapar Participacoes Stock Up 0.7%

The company’s 50 day moving average price is $5.33 and its two-hundred day moving average price is $5.05. The company has a current ratio of 1.67, a quick ratio of 1.30 and a debt-to-equity ratio of 0.89. The firm has a market cap of $6.08 billion, a PE ratio of 10.89, a PEG ratio of 0.62 and a beta of 0.71.

Institutional Trading of Ultrapar Participacoes

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Ultrapar Participacoes by 45.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,982 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Ultrapar Participacoes during the 4th quarter valued at approximately $32,000. R Squared Ltd bought a new position in shares of Ultrapar Participacoes during the 1st quarter valued at approximately $55,000. Allspring Global Investments Holdings LLC purchased a new stake in Ultrapar Participacoes in the 1st quarter worth approximately $62,000. Finally, SG Americas Securities LLC purchased a new stake in Ultrapar Participacoes in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.