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

Shares of Ultrapar Participações S.A. (NYSE:UGP - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $2.72, but opened at $2.60. Ultrapar Participações shares last traded at $2.59, with a volume of 87,562 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Scotiabank upgraded shares of Ultrapar Participações to a "hold" rating in a report on Friday, December 27th. StockNews.com lowered shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upgraded Ultrapar Participações from a "neutral" rating to an "overweight" rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.20.

Ultrapar Participações Price Performance

The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 2.21 and a beta of 1.52. The company's fifty day moving average is $3.02 and its 200 day moving average is $3.67. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in shares of 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 acquiring an additional 898,600 shares during the period. Marshall Wace LLP lifted its stake 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 last quarter. Point72 Asset Management L.P. bought a new position in Ultrapar Participações during the third quarter worth about $1,595,000. Dimensional Fund Advisors LP increased its position in Ultrapar Participações by 16.6% during the second quarter. Dimensional Fund Advisors LP now owns 303,436 shares of the oil and gas company's stock worth $1,187,000 after buying an additional 43,258 shares during the last quarter. Finally, Ritholtz Wealth Management raised its stake in Ultrapar Participações by 54.0% in the third quarter. Ritholtz Wealth Management now owns 283,247 shares of the oil and gas company's stock valued at $1,099,000 after buying an additional 99,324 shares during the period. 3.58% of the stock is 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.