Ultrapar Participacoes SA (NYSE:UGP) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $23.69 and last traded at $23.50, with a volume of 228,751 shares traded. The stock had previously closed at $23.02.

Separately, Zacks Investment Research upgraded shares of Ultrapar Participacoes SA from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Friday, May 20th.

The company has a 50-day moving average of $21.89 and a 200 day moving average of $19.29. The stock has a market capitalization of $12.94 billion and a P/E ratio of 27.67.

Ultrapar Participacoes SA (NYSE:UGP) last released its quarterly earnings results on Thursday, May 12th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. On average, equities analysts predict that Ultrapar Participacoes SA will post $0.85 EPS for the current year.

Ultrapar Participacoes SA is a Brazil-based holding company that operates in four segments: fuel distribution through Ipiranga; chemicals through Oxiteno; Liquefied Petroleum Gas (LPG) distribution through Ultragaz; and logistics for liquid bulk through Ultracargo. Ipiranga is a fuel distributor in Brazil, with a network of service stations, providing diesel, gasoline, ethanol, natural gas for vehicles, fuel oil and kerosene, besides lubricants.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.