Ultrapar Participações (NYSE:UGP) Reaches New 52-Week Low - Here's Why

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

Wall Street Analysts Forecast Growth

UGP has been the topic of several recent research reports. HSBC upgraded shares of Ultrapar Participações from a "reduce" rating to a "hold" rating in a research note on Friday, July 19th. Hsbc Global Res upgraded shares of Ultrapar Participações from a "strong sell" rating to a "hold" rating in a research note on Friday, July 19th. The Goldman Sachs Group decreased their target price on shares of Ultrapar Participações from $5.90 to $5.20 and set a "neutral" rating on the stock in a research note on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Ultrapar Participações currently has a consensus rating of "Hold" and a consensus price target of $5.20.

Ultrapar Participações Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.55 and a debt-to-equity ratio of 0.77. The firm's 50 day simple moving average is $3.80 and its 200 day simple moving average is $4.15. The company has a market capitalization of $3.75 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 2.80 and a beta of 1.61.

Institutional Trading of Ultrapar Participações

Several institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings 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 acquiring an additional 293,036 shares in the last quarter. Renaissance Technologies LLC grew its stake in Ultrapar Participações by 57.9% in the second 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 last quarter. Hennessy Advisors Inc. purchased a new position in Ultrapar Participações in the second quarter valued at about $5,887,000. Marshall Wace LLP grew its stake in 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 purchasing an additional 1,099,433 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC grew its stake in Ultrapar Participações by 27.3% in 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 purchasing an additional 94,761 shares during the last quarter. 3.58% of the stock is currently owned by 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.