Ultrapar Participacoes S.A. (NYSE:UGP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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) “

UGP has been the topic of a number of other reports. BidaskClub upgraded Ultrapar Participacoes from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Bank of America Corporation downgraded Ultrapar Participacoes from a “neutral” rating to an “underperform” rating in a report on Thursday, August 10th. Finally, HSBC Holdings plc downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Ultrapar Participacoes presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Ultrapar Participacoes (NYSE:UGP) opened at 24.76 on Tuesday. The firm has a 50-day moving average price of $23.26 and a 200 day moving average price of $23.02. Ultrapar Participacoes has a 52-week low of $18.38 and a 52-week high of $24.91. The firm has a market capitalization of $13.45 billion, a P/E ratio of 30.01 and a beta of 1.13.

WARNING: This piece of content was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/09/19/ultrapar-participacoes-s-a-ugp-upgraded-to-hold-by-zacks-investment-research.html.

Several large investors have recently made changes to their positions in the stock. Advisor Group Inc. grew its stake in 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 valued at $102,000 after purchasing an additional 1,018 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Ultrapar Participacoes by 13.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,695 shares of the oil and gas company’s stock valued at $151,000 after purchasing an additional 782 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in Ultrapar Participacoes during the 2nd quarter valued at approximately $210,000. Wetherby Asset Management Inc. grew its stake in Ultrapar Participacoes by 24.3% during the 2nd quarter. Wetherby Asset Management Inc. now owns 11,784 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 2,304 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Ultrapar Participacoes by 33.7% during the 1st quarter. Ameriprise Financial Inc. now owns 13,024 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 3,280 shares in the last quarter. Institutional investors and hedge funds own 3.97% of the company’s stock.

Ultrapar Participacoes Company Profile

Receive News & Stock Ratings for Ultrapar Participacoes S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultrapar Participacoes S.A. and related stocks with our FREE daily email newsletter.