Ultrapar Participacoes SA (NYSE:UGP)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $21.83, but opened at $21.98. Ultrapar Participacoes SA shares last traded at $22.41, with a volume of 292,579 shares.

Separately, Zacks Investment Research raised shares of Ultrapar Participacoes SA from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Thursday, July 28th.

The stock has a 50 day moving average price of $21.70 and a 200-day moving average price of $19.04. The company has a market capitalization of $12.40 billion and a P/E ratio of 27.10.

Ultrapar Participacoes SA (NYSE:UGP) last released its quarterly earnings results on Thursday, May 12th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Analysts expect that Ultrapar Participacoes SA will post $0.85 earnings per share 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.

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