Ultrapar Participacoes (NYSE:UGP) Sees Strong Trading Volume – Should You Buy?

Ultrapar Participacoes S.A. (NYSE:UGP) shares saw unusually-high trading volume on Tuesday . Approximately 5,758,262 shares changed hands during mid-day trading, an increase of 107% from the previous session’s volume of 2,775,495 shares.The stock last traded at $5.8450 and had previously closed at $6.00.

Analysts Set New Price Targets

Several research analysts recently commented on UGP shares. Bank of America upgraded shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. Wall Street Zen raised shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group increased their price objective on shares of Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Ultrapar Participacoes in a report on Monday, June 8th. Finally, HSBC downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating and lifted their target price for the company from $4.90 to $6.00 in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.32.

Ultrapar Participacoes Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.67 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average is $5.33 and its two-hundred day moving average is $5.14. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 0.53 and a beta of 0.71.

Institutional Investors Weigh In On Ultrapar Participacoes

A number of institutional investors and hedge funds have recently modified their holdings of UGP. Goldman Sachs Group Inc. grew its holdings in Ultrapar Participacoes by 98.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,214,612 shares of the oil and gas company’s stock worth $15,889,000 after purchasing an additional 2,087,852 shares during the period. JPMorgan Chase & Co. raised its stake in Ultrapar Participacoes by 117.4% in the third quarter. JPMorgan Chase & Co. now owns 4,084,186 shares of the oil and gas company’s stock valued at $16,745,000 after buying an additional 2,205,282 shares during the period. Renaissance Technologies LLC raised its stake in Ultrapar Participacoes by 10.6% in the first quarter. Renaissance Technologies LLC now owns 3,740,700 shares of the oil and gas company’s stock valued at $20,611,000 after buying an additional 357,922 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Ultrapar Participacoes in the third quarter valued at approximately $14,639,000. Finally, UBS Group AG lifted its position in shares of Ultrapar Participacoes by 131.9% in the third quarter. UBS Group AG now owns 2,890,033 shares of the oil and gas company’s stock valued at $11,849,000 after buying an additional 1,643,562 shares during the last quarter. 3.58% of the stock is owned by institutional investors.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.