Ultrapar Participações (NYSE:UGP) Shares Gap Up – Time to Buy?

Ultrapar Participações S.A. (NYSE:UGP)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.75, but opened at $2.84. Ultrapar Participações shares last traded at $2.83, with a volume of 88,818 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UGP. Hsbc Global Res raised shares of Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. Scotiabank upgraded shares of Ultrapar Participações to a “hold” rating in a report on Friday, December 27th. StockNews.com lowered Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, HSBC upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ultrapar Participações presently has a consensus rating of “Moderate Buy” and an average target price of $4.10.

Ultrapar Participações Stock Performance

The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 6.12, a price-to-earnings-growth ratio of 2.47 and a beta of 1.52. The company’s fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $3.54. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57.

Institutional Inflows and Outflows

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