Ultrapar Participacoes S.A. (UGP) Upgraded to Hold by Zacks Investment Research
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.
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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
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