Ultrapar Participações (NYSE:UGP) Shares Gap Down – What’s Next?

Ultrapar Participações S.A. (NYSE:UGP) shares gapped down prior to trading on Wednesday . The stock had previously closed at $2.75, but opened at $2.68. Ultrapar Participações shares last traded at $2.65, with a volume of 131,604 shares changing hands.

Analyst Ratings Changes

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

Ultrapar Participações Stock Up 3.1 %

The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $2.96 billion, a PE ratio of 5.76, a P/E/G ratio of 2.21 and a beta of 1.53. The firm has a 50 day simple moving average of $3.32 and a two-hundred day simple moving average of $3.82.

Institutional Investors Weigh In On Ultrapar Participações

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its position in Ultrapar Participações by 567.5% in the 2nd quarter. Blue Trust Inc. now owns 15,833 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 13,461 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Ultrapar Participações by 13.7% during the second quarter. Atomi Financial Group Inc. now owns 121,470 shares of the oil and gas company’s stock valued at $475,000 after buying an additional 14,650 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new stake in Ultrapar Participações in the 2nd quarter worth about $57,000. Acadian Asset Management LLC increased its position in Ultrapar Participações by 8.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock worth $14,713,000 after purchasing an additional 293,036 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC lifted its holdings in shares of Ultrapar Participações by 27.3% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock valued at $1,726,000 after buying an additional 94,761 shares during the last quarter. Institutional investors and hedge funds own 3.58% of the company’s stock.

Ultrapar Participações Company Profile

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.