Ultrapar Participações (NYSE:UGP) Raised to “Buy” at The Goldman Sachs Group

Ultrapar Participações (NYSE:UGP) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $3.20 price objective on the oil and gas company’s stock, down from their previous price objective of $4.10. The Goldman Sachs Group’s price objective would suggest a potential upside of 9.40% from the company’s previous close.

A number of other brokerages have also recently issued reports on UGP. Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a report on Friday, December 27th. Hsbc Global Res upgraded Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. HSBC upgraded Ultrapar Participações from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. upgraded Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.20.

Ultrapar Participações Trading Up 3.4 %

Shares of NYSE UGP opened at $2.93 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average price is $2.79 and its two-hundred day moving average price is $3.53. Ultrapar Participações has a 52-week low of $2.53 and a 52-week high of $6.34. The stock has a market capitalization of $3.26 billion, a P/E ratio of 6.36, a PEG ratio of 2.50 and a beta of 1.52.

Institutional Investors Weigh In On Ultrapar Participações

Several institutional investors have recently bought and sold shares of UGP. Sequoia Financial Advisors LLC bought a new position in Ultrapar Participações during the 3rd quarter valued at $46,000. Freedom Investment Management Inc. bought a new position in Ultrapar Participações during the third quarter valued at about $48,000. Signaturefd LLC boosted its stake in Ultrapar Participações by 67.9% during the third quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 6,476 shares in the last quarter. PDS Planning Inc grew its holdings in 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 period. Finally, Blue Trust Inc. raised its position in Ultrapar Participações by 109.2% in the third quarter. Blue Trust Inc. now owns 33,124 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 17,291 shares in the last quarter. Institutional investors and hedge funds own 3.58% of the company’s stock.

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.