Ultrapar Participacoes (NYSE:UGP) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Ultrapar Participacoes S.A. (NYSE:UGP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.42 and traded as high as $4.21. Ultrapar Participacoes shares last traded at $4.1750, with a volume of 1,298,704 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their target price on Ultrapar Participacoes from $4.00 to $4.50 and gave the company a “buy” rating in a report on Friday, September 26th. Zacks Research raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research report on Thursday. Scotiabank raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ultrapar Participacoes has a consensus rating of “Buy” and an average target price of $4.50.

Ultrapar Participacoes Trading Up 2.1%

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.38 and a current ratio of 1.82. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 2.03 and a beta of 1.08. The business has a fifty day simple moving average of $3.95 and a 200-day simple moving average of $3.42.

Institutional Investors Weigh In On Ultrapar Participacoes

Institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC increased its position in Ultrapar Participacoes by 14.2% in the 3rd quarter. Inspire Investing LLC now owns 21,133 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 2,632 shares during the period. CWM LLC grew its stake in shares of Ultrapar Participacoes by 55.6% in the first quarter. CWM LLC now owns 9,463 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 3,380 shares during the last quarter. Plan A Wealth LLC increased its holdings in Ultrapar Participacoes by 32.4% in the third quarter. Plan A Wealth LLC now owns 14,056 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 3,438 shares during the period. Blue Trust Inc. increased its holdings in Ultrapar Participacoes by 27.6% in the second quarter. Blue Trust Inc. now owns 16,425 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 3,554 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Ultrapar Participacoes by 5.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 75,215 shares of the oil and gas company’s stock worth $308,000 after purchasing an additional 3,952 shares during the last quarter. 3.58% of the stock is owned by institutional investors.

About Ultrapar Participacoes

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.