Ultrapar Participações (NYSE:UGP) Shares Gap Down – Here’s Why

Ultrapar Participações S.A. (NYSE:UGP)’s share price gapped down before the market opened on Friday . The stock had previously closed at $3.06, but opened at $2.80. Ultrapar Participações shares last traded at $2.88, with a volume of 500,987 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.20.

Ultrapar Participações Trading Down 2.9 %

The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 2.41 and a beta of 1.61. 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 company has a 50 day moving average price of $3.61 and a 200 day moving average price of $4.01.

Hedge Funds Weigh In On Ultrapar Participações

Large investors have recently made changes to their positions in the stock. Creative Planning grew its stake in shares of 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 in the last quarter. Marshall Wace LLP grew its stake in Ultrapar Participações by 332.6% during the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after purchasing an additional 1,099,433 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Ultrapar Participações during the 3rd quarter worth about $46,000. Signaturefd LLC raised its position in Ultrapar Participações by 67.9% in the 3rd quarter. Signaturefd LLC now owns 16,017 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 6,476 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of Ultrapar Participações in the 2nd quarter valued at about $5,887,000. 3.58% of the stock is currently owned by institutional investors and hedge funds.

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.