Ultrapar Participações (NYSE:UGP) Shares Gap Down - Here's What Happened

Ultrapar Participações S.A. (NYSE:UGP - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $3.40, but opened at $3.30. Ultrapar Participações shares last traded at $3.31, with a volume of 249,844 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on UGP. The Goldman Sachs Group cut their price target on shares of Ultrapar Participações from $5.90 to $5.20 and set a "neutral" rating for the company in a research note on Tuesday, July 23rd. StockNews.com lowered shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $5.20.

Ultrapar Participações Trading Down 4.7 %

The company has a market capitalization of $3.61 billion, a P/E ratio of 7.04, a PEG ratio of 2.68 and a beta of 1.61. The business's 50-day moving average price is $3.79 and its two-hundred day moving average price is $4.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11.

Institutional Investors Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its stake in Ultrapar Participações by 8.4% in the 2nd 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 buying an additional 293,036 shares during the last quarter. Renaissance Technologies LLC grew its stake in Ultrapar Participações by 57.9% in 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 buying an additional 898,600 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Ultrapar Participações in the 2nd quarter valued at about $5,887,000. Marshall Wace LLP boosted its holdings in Ultrapar Participações by 332.6% in 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 purchasing an additional 1,099,433 shares during the period. Finally, Longfellow Investment Management Co. LLC boosted its holdings in Ultrapar Participações by 27.3% in the 2nd 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 period. 3.58% of the stock is currently owned by institutional investors and hedge funds.

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.