Ultrapar Participacoes (UGP) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Ultrapar Participacoes (NYSE:UGP) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Ultrapar Participacoes S.A., a major Brazilian industrial group, is one of the largest distributors of liquefied petroleum gas in Brazil and a leading producer of petrochemicals and chemical. Ultrapar is also engaged in the storage and transportation of liquefied petroleum gas and petrochemical and chemical products. (PRESS RELEASE) “

Other equities analysts also recently issued reports about the company. Credit Suisse Group upgraded Ultrapar Participacoes from an underperform rating to a neutral rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. restated a neutral rating on shares of Ultrapar Participacoes in a research report on Friday, March 22nd. Finally, ValuEngine downgraded Ultrapar Participacoes from a hold rating to a sell rating in a research report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Ultrapar Participacoes has a consensus rating of Hold and an average target price of $18.00.

Shares of UGP opened at $5.04 on Thursday. Ultrapar Participacoes has a 1 year low of $4.43 and a 1 year high of $7.90. The company has a quick ratio of 2.18, a current ratio of 2.76 and a debt-to-equity ratio of 1.44. The stock has a market cap of $5.36 billion, a PE ratio of 18.00 and a beta of 0.25.

Ultrapar Participacoes (NYSE:UGP) last issued its quarterly earnings data on Thursday, May 16th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.03. Ultrapar Participacoes had a return on equity of 13.29% and a net margin of 1.44%. The company had revenue of $5.50 billion during the quarter. On average, research analysts anticipate that Ultrapar Participacoes will post 0.16 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in Ultrapar Participacoes by 23.2% in the first quarter. Renaissance Technologies LLC now owns 3,892,940 shares of the oil and gas company’s stock worth $46,521,000 after purchasing an additional 731,940 shares in the last quarter. Bank of America Corp DE increased its holdings in Ultrapar Participacoes by 31,125.3% in the fourth quarter. Bank of America Corp DE now owns 1,559,077 shares of the oil and gas company’s stock worth $21,110,000 after purchasing an additional 1,554,084 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ultrapar Participacoes by 28.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,435,260 shares of the oil and gas company’s stock worth $17,152,000 after purchasing an additional 320,575 shares in the last quarter. Morgan Stanley increased its holdings in Ultrapar Participacoes by 49.9% in the third quarter. Morgan Stanley now owns 1,118,871 shares of the oil and gas company’s stock worth $10,360,000 after purchasing an additional 372,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Ultrapar Participacoes by 16.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 626,612 shares of the oil and gas company’s stock worth $8,485,000 after purchasing an additional 88,098 shares in the last quarter. Institutional investors own 1.76% of the company’s stock.

About Ultrapar Participacoes

Ultrapar Participações SA engages in the gas distribution, fuel distribution, chemicals, storage, and drugstores businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. The company's Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers, as well as independent dealers primarily in the South, Southeast, and Northeast regions of Brazil.

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