Ultrapar Participacoes S.A. (NYSE:UGP) Receives $6.32 Consensus Price Target from Brokerages

Ultrapar Participacoes S.A. (NYSE:UGP) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.32.

A number of brokerages have weighed in on UGP. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ultrapar Participacoes in a report on Monday, June 8th. Bank of America raised Ultrapar Participacoes from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.80 to $7.40 in a research report on Wednesday, July 8th. HSBC cut Ultrapar Participacoes from a “buy” rating to a “hold” rating and lifted their target price for the company from $4.90 to $6.00 in a report on Wednesday, April 8th. UBS Group raised their price objective on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen raised Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th.

Ultrapar Participacoes Price Performance

UGP opened at $6.22 on Thursday. The company’s 50 day simple moving average is $5.34 and its 200 day simple moving average is $5.19. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 1.67. Ultrapar Participacoes has a 1 year low of $2.84 and a 1 year high of $6.36. The stock has a market capitalization of $6.94 billion, a PE ratio of 12.45, a P/E/G ratio of 0.51 and a beta of 0.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. raised its stake in shares of Ultrapar Participacoes by 233.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 63,803 shares of the oil and gas company’s stock valued at $320,000 after acquiring an additional 44,645 shares during the period. Optiver Holding B.V. raised its position in Ultrapar Participacoes by 3.0% in the first quarter. Optiver Holding B.V. now owns 453,455 shares of the oil and gas company’s stock valued at $2,499,000 after purchasing an additional 13,203 shares during the period. Parvin Asset Management LLC raised its position in Ultrapar Participacoes by 11.6% in the first quarter. Parvin Asset Management LLC now owns 185,750 shares of the oil and gas company’s stock valued at $1,023,000 after purchasing an additional 19,350 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Ultrapar Participacoes by 45.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 1,982 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Ultrapar Participacoes by 165.5% in the first quarter. Royal Bank of Canada now owns 12,390 shares of the oil and gas company’s stock worth $68,000 after buying an additional 7,724 shares during the period. 3.58% of the stock is owned by institutional investors and hedge funds.

About Ultrapar Participacoes

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.