Ultrapar Participações (NYSE:UGP) Stock Rating Upgraded by Scotiabank

Ultrapar Participações (NYSE:UGP) was upgraded by equities research analysts at Scotiabank to a “hold” rating in a research report issued on Friday,Zacks.com reports.

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

Ultrapar Participações Stock Down 0.4 %

Shares of NYSE:UGP opened at $2.59 on Friday. The firm has a market capitalization of $2.89 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.53. The business has a 50 day simple moving average of $3.20 and a two-hundred day simple moving average of $3.75. Ultrapar Participações has a 1 year low of $2.55 and a 1 year high of $6.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11.

Hedge Funds Weigh In On Ultrapar Participações

A number of hedge funds have recently added to or reduced their stakes in the stock. Cutter & CO Brokerage Inc. purchased a new stake in shares of Ultrapar Participações in the second quarter valued at approximately $57,000. Acadian Asset Management LLC lifted its holdings in shares of 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 worth $14,713,000 after buying an additional 293,036 shares during the period. Longfellow Investment Management Co. LLC grew its position in shares of Ultrapar Participações by 27.3% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock worth $1,726,000 after buying an additional 94,761 shares in the last quarter. D Orazio & Associates Inc. grew its position in shares of Ultrapar Participações by 30.3% during the 2nd quarter. D Orazio & Associates Inc. now owns 15,046 shares of the oil and gas company’s stock worth $59,000 after buying an additional 3,498 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Ultrapar Participações by 16.6% during the second quarter. Dimensional Fund Advisors LP now owns 303,436 shares of the oil and gas company’s stock valued at $1,187,000 after buying an additional 43,258 shares during the period. 3.58% of the stock is currently owned by institutional investors.

About Ultrapar Participações

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.