Ultrapar Participações (NYSE:UGP) Shares Down 4.3% After Analyst Downgrade

Ultrapar Participações S.A. (NYSE:UGP - Get Free Report) was down 4.3% on Thursday after The Goldman Sachs Group lowered their price target on the stock from $4.80 to $4.10. The Goldman Sachs Group currently has a neutral rating on the stock. Ultrapar Participações traded as low as $2.65 and last traded at $2.65. 213,690 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,404,838 shares. The stock had previously closed at $2.77.

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

Hedge Funds Weigh In On Ultrapar Participações

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Ultrapar Participações by 71.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 67,914 shares of the oil and gas company's stock valued at $264,000 after buying an additional 28,379 shares during the period. Point72 Asset Management L.P. acquired a new position in Ultrapar Participações in the third quarter valued at approximately $1,595,000. Creative Planning grew its position in Ultrapar Participações by 45.2% in the third quarter. Creative Planning now owns 55,980 shares of the oil and gas company's stock worth $217,000 after acquiring an additional 17,430 shares during the period. Walleye Capital LLC increased its stake in Ultrapar Participações by 41.5% during the third quarter. Walleye Capital LLC now owns 36,299 shares of the oil and gas company's stock worth $141,000 after acquiring an additional 10,654 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Ultrapar Participações by 332.6% during the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company's stock worth $5,591,000 after acquiring an additional 1,099,433 shares during the last quarter. 3.58% of the stock is owned by hedge funds and other institutional investors.

Ultrapar Participações Price Performance

The stock has a 50-day simple moving average of $2.90 and a 200 day simple moving average of $3.61. The company has a market cap of $2.96 billion, a PE ratio of 5.77, a P/E/G 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.

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.