HSBC Upgrades Ultrapar Participações (NYSE:UGP) to “Buy”

Ultrapar Participações (NYSE:UGP) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a report issued on Friday,Finviz reports.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Ultrapar Participações from $4.80 to $4.10 and set a “neutral” rating on the stock in a research report on Thursday. StockNews.com lowered shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upgraded Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Finally, Scotiabank upgraded Ultrapar Participações to a “hold” rating in a report on Friday, December 27th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.10.

Ultrapar Participações Stock Performance

NYSE UGP opened at $2.69 on Friday. The business’s 50-day moving average price is $2.92 and its 200 day moving average price is $3.62. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. Ultrapar Participações has a twelve month low of $2.53 and a twelve month high of $6.34. The company has a market capitalization of $2.99 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52.

Hedge Funds Weigh In On Ultrapar Participações

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new stake in Ultrapar Participações during the 3rd quarter worth $46,000. Freedom Investment Management Inc. purchased a new stake in shares of Ultrapar Participações in the third quarter worth about $48,000. Signaturefd LLC grew its stake in shares of Ultrapar Participações by 67.9% in the third quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 6,476 shares in the last quarter. PDS Planning Inc raised its holdings in shares of Ultrapar Participações by 90.2% during the 3rd quarter. PDS Planning Inc now owns 21,408 shares of the oil and gas company’s stock valued at $83,000 after buying an additional 10,153 shares during the period. Finally, Blue Trust Inc. lifted its position in Ultrapar Participações by 109.2% during the 3rd quarter. Blue Trust Inc. now owns 33,124 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 17,291 shares in the last quarter. Hedge funds and other institutional investors own 3.58% of the company’s stock.

About Ultrapar Participações

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.