Ultrapar Participações (NYSE:UGP) Upgraded at Scotiabank

Scotiabank upgraded shares of Ultrapar Participações (NYSE:UGP) to a hold rating in a research note issued to investors on Friday morning,Zacks.com reports.

Separately, StockNews.com cut shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.20.

Ultrapar Participações Stock Performance

NYSE UGP opened at $2.59 on Friday. The business’s 50 day moving average price is $3.20 and its 200-day moving average price is $3.75. Ultrapar Participações has a fifty-two week low of $2.55 and a fifty-two week high of $6.34. The company has a market cap of $2.89 billion, a P/E ratio of 5.63, a P/E/G ratio of 2.21 and a beta of 1.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57.

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in Ultrapar Participações by 332.6% during the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after buying an additional 1,099,433 shares during the last quarter. Renaissance Technologies LLC increased its position in Ultrapar Participações by 57.9% during the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock worth $9,581,000 after purchasing an additional 898,600 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Ultrapar Participações during the third quarter worth about $1,595,000. Acadian Asset Management LLC boosted its holdings in Ultrapar Participações by 8.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock valued at $14,713,000 after purchasing an additional 293,036 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Ultrapar Participações in the 3rd quarter valued at approximately $452,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

Ultrapar Participações Company Profile

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.