Ultrapar Participacoes (NYSE:UGP) Price Target Raised to $7.20

Ultrapar Participacoes (NYSE:UGP) had its price target hoisted by stock analysts at UBS Group from $7.00 to $7.20 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. UBS Group’s price target points to a potential upside of 52.06% from the stock’s current price.

A number of other research firms have also issued reports on UGP. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research note on Monday, June 8th. Jefferies Financial Group upgraded shares of Ultrapar Participacoes from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $3.10 to $5.60 in a research note on Friday, March 13th. Wall Street Zen raised shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, HSBC downgraded shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating and raised their price target for the stock from $4.90 to $6.00 in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.05.

Ultrapar Participacoes Trading Up 1.0%

NYSE UGP traded up $0.05 during mid-day trading on Wednesday, hitting $4.74. The company’s stock had a trading volume of 1,786,546 shares, compared to its average volume of 2,724,243. Ultrapar Participacoes has a 52-week low of $2.80 and a 52-week high of $6.20. The stock’s fifty day simple moving average is $5.59 and its two-hundred day simple moving average is $4.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.67 and a quick ratio of 1.30. The firm has a market capitalization of $5.28 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 0.95 and a beta of 0.71.

Ultrapar Participacoes (NYSE:UGP) last posted its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.05 EPS for the quarter. Ultrapar Participacoes had a net margin of 2.04% and a return on equity of 16.54%. The firm had revenue of $6.19 billion for the quarter. Research analysts expect that Ultrapar Participacoes will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Ultrapar Participacoes

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in shares of Ultrapar Participacoes by 45.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 1,982 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ultrapar Participacoes during the fourth quarter valued at about $32,000. R Squared Ltd bought a new stake in shares of Ultrapar Participacoes during the first quarter valued at about $55,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Ultrapar Participacoes during the first quarter valued at about $62,000. Finally, SG Americas Securities LLC bought a new stake in shares of Ultrapar Participacoes during the fourth quarter valued at about $44,000. 3.58% of the stock is currently owned by institutional investors.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.