Ultrapar Participações (NYSE:UGP) Shares Gap Up - Here's Why

Ultrapar Participações S.A. (NYSE:UGP - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $2.88, but opened at $2.97. Ultrapar Participações shares last traded at $2.95, with a volume of 31,960 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UGP. Hsbc Global Res upgraded shares of Ultrapar Participações from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 17th. The Goldman Sachs Group raised Ultrapar Participações from a "neutral" rating to a "buy" rating and cut their price target for the company from $4.10 to $3.20 in a report on Friday, January 31st. HSBC raised Ultrapar Participações from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a "neutral" rating to an "overweight" rating in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ultrapar Participações currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.20.

Ultrapar Participações Price Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. The firm has a fifty day simple moving average of $2.76 and a two-hundred day simple moving average of $3.45. The firm has a market cap of $3.40 billion, a PE ratio of 6.62, a PEG ratio of 2.52 and a beta of 1.52.

Hedge Funds Weigh In On Ultrapar Participações

A number of institutional investors and hedge funds have recently made changes to their positions in UGP. BNP Paribas Financial Markets lifted its holdings 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 acquiring an additional 28,379 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Ultrapar Participações in the 3rd quarter valued at approximately $1,595,000. SG Americas Securities LLC purchased a new position in shares of Ultrapar Participações in the 4th quarter worth approximately $374,000. JPMorgan Chase & Co. increased its position in shares of Ultrapar Participações by 194.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 159,142 shares of the oil and gas company's stock valued at $617,000 after purchasing an additional 105,133 shares during the last quarter. Finally, Creative Planning raised its holdings in Ultrapar Participações by 45.2% during the 3rd quarter. Creative Planning now owns 55,980 shares of the oil and gas company's stock valued at $217,000 after buying an additional 17,430 shares during the period. 3.58% of the stock is owned by hedge funds and other institutional investors.

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.