Ultrapar Participacoes (NYSE:UGP) Stock Rating Upgraded by Zacks Research

Ultrapar Participacoes (NYSE:UGP) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other analysts have also commented on the company. UBS Group lifted their price objective on Ultrapar Participacoes from $7.20 to $7.90 and gave the stock a “buy” rating in a research report on Friday, September 4th. Scotiabank cut Ultrapar Participacoes from a “sector outperform” rating to a “hold” rating in a report on Thursday, September 17th. Weiss Ratings downgraded shares of Ultrapar Participacoes from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. The Goldman Sachs Group reduced their target price on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a research note on Wednesday, August 26th. Finally, Bank of America raised shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and raised their target price for the company from $6.80 to $7.40 in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ultrapar Participacoes has an average rating of “Moderate Buy” and an average price target of $6.54.

Ultrapar Participacoes Trading Up 2.0%

Shares of NYSE UGP traded up $0.15 during midday trading on Thursday, hitting $7.79. The stock had a trading volume of 3,525,273 shares, compared to its average volume of 4,693,848. The company’s 50-day simple moving average is $7.15 and its 200 day simple moving average is $6.17. The firm has a market cap of $8.70 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.43 and a beta of 0.71. Ultrapar Participacoes has a fifty-two week low of $3.60 and a fifty-two week high of $8.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.26.

Ultrapar Participacoes (NYSE:UGP) last released its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%. The company had revenue of $8 billion during the quarter, compared to the consensus estimate of $8.18 billion. Research analysts anticipate that Ultrapar Participacoes will post 0.84 EPS for the current year.

Insider Activity at Ultrapar Participacoes

In related news, CEO Decio De Sampaio Amaral sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total transaction of $55,440.00. Following the completion of the transaction, the chief executive officer owned 151,432 shares in the company, valued at approximately $1,049,423.76. The trade was a 5.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pedro Guedes Rabelo sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $7.58, for a total transaction of $227,400.00. Following the completion of the sale, the insider directly owned 57,898 shares of the company’s stock, valued at $438,866.84. The trade was a 34.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 77,785 shares of company stock worth $587,312. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Ultrapar Participacoes

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Ultrapar Participacoes by 45.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,982 shares in the last quarter. R Squared Ltd acquired a new position in Ultrapar Participacoes in the first quarter valued at about $55,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Ultrapar Participacoes in the first quarter worth about $62,000. Royal Bank of Canada increased its holdings in shares of Ultrapar Participacoes by 165.5% in the first quarter. Royal Bank of Canada now owns 12,390 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 7,724 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Ultrapar Participacoes in the fourth quarter worth about $57,000. Institutional investors own 3.58% of the company’s stock.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian holding company with operations focused on energy, fuel distribution and logistics. Through its businesses, the company supplies fuels, liquefied petroleum gas (LPG) and related services to consumers, commercial customers and industrial clients.

Its principal businesses include Ipiranga, one of Brazil’s major fuel distribution companies, and Ultragaz, which distributes LPG for residential, commercial and industrial use. Ultrapar also owns Ultracargo, a provider of storage and handling services for liquid bulk products, including fuels, chemicals and other industrial materials.

Ultrapar’s operations are concentrated primarily in Brazil, with activities supported by distribution networks, terminals and storage infrastructure across key regions of the country.