Ultrapar Participacoes (NYSE:UGP) Upgraded at Zacks Investment Research
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) “
A number of other analysts have also recently weighed in on the company. Bradesco Corretora upgraded Ultrapar Participacoes from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on Ultrapar Participacoes from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Goldman Sachs Group began coverage on Ultrapar Participacoes in a research report on Thursday, October 3rd. They set a “neutral” rating and a $4.70 price target on the stock. ValuEngine upgraded Ultrapar Participacoes from a “strong sell” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Santander cut Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $9.23.
Ultrapar Participacoes (NYSE:UGP) last announced its quarterly earnings results on Wednesday, August 14th. The oil and gas company reported $0.03 earnings per share for the quarter. The business had revenue of $5.53 billion for the quarter. Ultrapar Participacoes had a return on equity of 11.93% and a net margin of 1.32%. Sell-side analysts predict that Ultrapar Participacoes will post 0.27 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in Ultrapar Participacoes in the first quarter valued at approximately $121,000. Crossmark Global Holdings Inc. boosted its position in Ultrapar Participacoes by 94.4% in the second quarter. Crossmark Global Holdings Inc. now owns 103,347 shares of the oil and gas company’s stock valued at $542,000 after buying an additional 50,190 shares during the last quarter. Exane Derivatives boosted its position in Ultrapar Participacoes by 541.8% in the second quarter. Exane Derivatives now owns 274,581 shares of the oil and gas company’s stock valued at $1,438,000 after buying an additional 231,801 shares during the last quarter. Henry James International Management Inc. boosted its position in Ultrapar Participacoes by 95.8% in the second quarter. Henry James International Management Inc. now owns 152,591 shares of the oil and gas company’s stock valued at $800,000 after buying an additional 74,648 shares during the last quarter. Finally, Legato Capital Management LLC boosted its position in Ultrapar Participacoes by 100.0% in the second quarter. Legato Capital Management LLC now owns 524,400 shares of the oil and gas company’s stock valued at $2,748,000 after buying an additional 262,200 shares during the last quarter. Hedge funds and other institutional investors own 3.38% of the company’s stock.
Ultrapar Participacoes Company Profile
Ultrapar Participações SA engages in the gas distribution, fuel distribution, chemicals, storage, and drugstores businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. The company's Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers, as well as independent dealers primarily in the South, Southeast, and Northeast regions of Brazil.
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