The Goldman Sachs Group Has Lowered Expectations for Ultrapar Participações (NYSE:UGP) Stock Price

Ultrapar Participações (NYSE:UGP - Get Free Report) had its price objective reduced by stock analysts at The Goldman Sachs Group from $4.80 to $4.10 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. The Goldman Sachs Group's price target points to a potential upside of 54.43% from the company's current price.

A number of other brokerages also recently weighed in on UGP. JPMorgan Chase & Co. raised shares of Ultrapar Participações from a "neutral" rating to an "overweight" rating in a report on Tuesday, January 7th. Scotiabank upgraded shares of Ultrapar Participações to a "hold" rating in a research note on Friday, December 27th. Finally, StockNews.com lowered shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $4.10.

Ultrapar Participações Stock Performance

UGP stock traded down $0.04 during midday trading on Thursday, hitting $2.66. The company's stock had a trading volume of 881,537 shares, compared to its average volume of 1,475,458. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 2.17 and a beta of 1.52. 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 $2.90 and its 200 day moving average price is $3.61. Ultrapar Participações has a 1 year low of $2.53 and a 1 year high of $6.34.

Hedge Funds Weigh In On Ultrapar Participações

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake in shares of 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 buying an additional 1,099,433 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 acquiring an additional 898,600 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Ultrapar Participações during the third quarter worth $1,595,000. SG Americas Securities LLC bought a new position in shares of Ultrapar Participações in the fourth quarter worth $374,000. Finally, Virtu Financial LLC purchased a new position in shares of Ultrapar Participações in the third quarter valued at $452,000. 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.