The Goldman Sachs Group Cuts Ultrapar Participações (NYSE:UGP) Price Target to $4.10

Ultrapar Participações (NYSE:UGP) had its target price trimmed by The Goldman Sachs Group from $4.80 to $4.10 in a research note published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

UGP has been the subject of several other research reports. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. StockNews.com lowered shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $4.10.

Ultrapar Participações Stock Performance

NYSE:UGP opened at $2.66 on Thursday. The company’s 50-day moving average is $2.90 and its two-hundred day moving average is $3.61. Ultrapar Participações has a 1-year low of $2.53 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. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 2.17 and a beta of 1.52.

Hedge Funds Weigh In On Ultrapar Participações

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UGP. Sequoia Financial Advisors LLC purchased a new stake in shares of Ultrapar Participações in the 3rd quarter valued at about $46,000. Freedom Investment Management Inc. purchased a new stake in Ultrapar Participações in the third quarter valued at approximately $48,000. Signaturefd LLC boosted its holdings in shares of Ultrapar Participações by 67.9% in the third quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 6,476 shares during the period. PDS Planning Inc grew its position in shares of Ultrapar Participações by 90.2% during the third quarter. PDS Planning Inc now owns 21,408 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 10,153 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Ultrapar Participações by 109.2% in the 3rd quarter. Blue Trust Inc. now owns 33,124 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 17,291 shares during the period. 3.58% of the stock is owned by institutional investors and hedge funds.

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.