Ultrapar Participacoes (NYSE:UGP) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Ultrapar Participacoes S.A. (NYSE:UGP) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.05 and traded as high as $5.49. Ultrapar Participacoes shares last traded at $5.4460, with a volume of 3,019,792 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UGP. Jefferies Financial Group upgraded shares of Ultrapar Participacoes from an “underperform” rating to a “hold” rating and raised their target price for the stock from $3.10 to $5.60 in a research report on Friday, March 13th. HSBC lowered Ultrapar Participacoes from a “buy” rating to a “hold” rating and increased their price target for the stock from $4.90 to $6.00 in a research note on Wednesday, April 8th. Wall Street Zen upgraded Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ultrapar Participacoes in a research report on Monday, June 8th. Finally, UBS Group upped their target price on Ultrapar Participacoes from $7.00 to $7.20 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.32.

Ultrapar Participacoes Price Performance

The company’s 50-day moving average is $5.32 and its 200-day moving average is $5.06. 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 $6.50 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 0.63 and a beta of 0.71.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of hedge funds have recently made changes to their positions in UGP. Goldman Sachs Group Inc. grew its stake in shares of Ultrapar Participacoes by 98.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,214,612 shares of the oil and gas company’s stock valued at $15,889,000 after buying an additional 2,087,852 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ultrapar Participacoes by 117.4% in the third quarter. JPMorgan Chase & Co. now owns 4,084,186 shares of the oil and gas company’s stock valued at $16,745,000 after acquiring an additional 2,205,282 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Ultrapar Participacoes by 10.6% in the first quarter. Renaissance Technologies LLC now owns 3,740,700 shares of the oil and gas company’s stock valued at $20,611,000 after acquiring an additional 357,922 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Ultrapar Participacoes during the third quarter valued at about $14,639,000. Finally, UBS Group AG grew its position in Ultrapar Participacoes by 131.9% during the third quarter. UBS Group AG now owns 2,890,033 shares of the oil and gas company’s stock valued at $11,849,000 after acquiring an additional 1,643,562 shares during the period. Institutional investors and hedge funds own 3.58% of the company’s stock.

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.