Ultrapar Participações (NYSE:UGP) Reaches New 1-Year Low – What’s Next?

Ultrapar Participações S.A. (NYSE:UGP)’s share price reached a new 52-week low on Thursday . The company traded as low as $3.48 and last traded at $3.48, with a volume of 5734 shares traded. The stock had previously closed at $3.58.

Analysts Set New Price Targets

A number of research firms have recently issued reports on UGP. Hsbc Global Res raised Ultrapar Participações from a “strong sell” rating to a “hold” rating in a report on Friday, July 19th. StockNews.com cut shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group lowered their target price on shares of Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Finally, HSBC upgraded shares of Ultrapar Participações from a “reduce” rating to a “hold” rating in a research report on Friday, July 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.20.

Ultrapar Participações Stock Performance

The company has a market capitalization of $3.95 billion, a PE ratio of 6.88, a P/E/G ratio of 2.80 and a beta of 1.61. The stock has a 50-day simple moving average of $3.82 and a 200 day simple moving average of $4.15. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.55 and a quick ratio of 1.16.

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds have recently added to or reduced their stakes in UGP. Acadian Asset Management LLC grew its position in shares of Ultrapar Participações by 8.4% in the second 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. 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 buying an additional 898,600 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Ultrapar Participações in the second quarter worth $5,887,000. Marshall Wace LLP lifted its position in shares of Ultrapar Participações by 332.6% in the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock valued at $5,591,000 after acquiring an additional 1,099,433 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC boosted its stake in shares of Ultrapar Participações by 27.3% during the second quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock valued at $1,726,000 after acquiring an additional 94,761 shares during the last quarter. 3.58% of the stock is currently owned by hedge funds and other 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.