Ultrapar Participações (NYSE:UGP) Shares Gap Down – What’s Next?

Ultrapar Participações S.A. (NYSE:UGP) gapped down before the market opened on Monday . The stock had previously closed at $3.40, but opened at $3.30. Ultrapar Participações shares last traded at $3.31, with a volume of 249,844 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. The Goldman Sachs Group cut their price objective on shares of Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Ultrapar Participações has a consensus rating of “Hold” and a consensus price target of $5.20.

Ultrapar Participações Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The company has a market cap of $3.59 billion, a P/E ratio of 7.00, a PEG ratio of 2.68 and a beta of 1.61. The business’s 50 day simple moving average is $3.75 and its 200 day simple moving average is $4.09.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hennessy Advisors Inc. bought a new stake in Ultrapar Participações during the second quarter valued at about $5,887,000. Marshall Wace LLP raised its stake in Ultrapar Participações by 332.6% during the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock valued at $5,591,000 after purchasing an additional 1,099,433 shares during the period. Renaissance Technologies LLC raised its stake in Ultrapar Participações by 57.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after purchasing an additional 898,600 shares during the period. Point72 Asset Management L.P. purchased a new position in Ultrapar Participações in the 3rd quarter worth approximately $1,595,000. Finally, Acadian Asset Management LLC boosted its stake 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 worth $14,713,000 after purchasing an additional 293,036 shares during the period. 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.