Ultrapar Participacoes (NYSE:UGP) Hits New 12-Month High – Still a Buy?

Ultrapar Participacoes S.A. (NYSE:UGP) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.41 and last traded at $6.4040, with a volume of 320389 shares trading hands. The stock had previously closed at $6.28.

Analysts Set New Price Targets

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

Ultrapar Participacoes Trading Up 0.7%

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 business’s fifty day moving average is $5.37 and its 200 day moving average is $5.25. The stock has a market cap of $7.30 billion, a PE ratio of 13.09, a P/E/G ratio of 0.53 and a beta of 0.71.

Institutional Trading of Ultrapar Participacoes

Several large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Ultrapar Participacoes during the 4th quarter worth $32,000. EverSource Wealth Advisors LLC increased its holdings in Ultrapar Participacoes by 45.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 1,982 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ultrapar Participacoes during the fourth quarter worth about $44,000. GeoWealth Management LLC purchased a new stake in shares of Ultrapar Participacoes in the fourth quarter valued at about $44,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Ultrapar Participacoes in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 3.58% of the company’s stock.

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.