Ultrapar Participações (NYSE:UGP) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Ultrapar Participações (NYSE:UGP - Free Report) from a hold rating to a strong-buy rating in a research report report published on Friday,Zacks.com reports.

Several other equities research analysts have also issued reports on UGP. Scotiabank raised shares of Ultrapar Participações to a "hold" rating in a report on Friday, December 27th. 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 downgraded shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th. The Goldman Sachs Group dropped their target price on shares of Ultrapar Participações from $4.80 to $4.10 and set a "neutral" rating for the company in a report on Thursday. Finally, HSBC upgraded Ultrapar Participações from a "hold" rating to a "buy" rating in a research note on Friday. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.10.

Ultrapar Participações Stock Performance

UGP traded down $0.04 during midday trading on Friday, reaching $2.66. The company had a trading volume of 881,537 shares, compared to its average volume of 1,729,843. The business has a 50-day moving average of $2.90 and a two-hundred day moving average of $3.61. 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 has a 1 year low of $2.53 and a 1 year high of $6.34. The company has a market cap of $2.96 billion, a P/E ratio of 5.77, a P/E/G ratio of 2.17 and a beta of 1.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UGP. Sequoia Financial Advisors LLC bought a new stake in shares of Ultrapar Participações in the third quarter worth about $46,000. Freedom Investment Management Inc. bought a new stake in Ultrapar Participações in the 3rd quarter worth approximately $48,000. Signaturefd LLC raised its holdings in shares of Ultrapar Participações by 67.9% during the 3rd quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company's stock worth $62,000 after acquiring an additional 6,476 shares in the last quarter. PDS Planning Inc boosted its position in shares of Ultrapar Participações by 90.2% during the 3rd quarter. PDS Planning Inc now owns 21,408 shares of the oil and gas company's stock valued at $83,000 after acquiring an additional 10,153 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Ultrapar Participações by 109.2% in the third quarter. Blue Trust Inc. now owns 33,124 shares of the oil and gas company's stock valued at $130,000 after purchasing an additional 17,291 shares in the last quarter. Institutional investors own 3.58% of the company's stock.

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.