Ultrapar Participacoes S.A. (NYSE:UGP) was downgraded by HSBC Holdings plc from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other brokerages have also recently weighed in on UGP. BidaskClub raised shares of Ultrapar Participacoes from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup Inc. cut shares of Ultrapar Participacoes from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 11th. Finally, Zacks Investment Research cut shares of Ultrapar Participacoes from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $24.00.

Ultrapar Participacoes (UGP) traded down 1.00% during midday trading on Tuesday, hitting $22.76. The stock had a trading volume of 78,995 shares. The stock’s 50 day moving average price is $23.48 and its 200-day moving average price is $22.56. Ultrapar Participacoes has a 52 week low of $18.38 and a 52 week high of $24.78. The company has a market cap of $12.37 billion, a PE ratio of 25.12 and a beta of 1.12.

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Several institutional investors have recently made changes to their positions in the company. Aberdeen Asset Management PLC UK raised its position in shares of Ultrapar Participacoes by 2.9% in the first quarter. Aberdeen Asset Management PLC UK now owns 4,052,617 shares of the oil and gas company’s stock worth $92,116,000 after buying an additional 112,800 shares during the last quarter. Legato Capital Management LLC raised its position in shares of Ultrapar Participacoes by 2,549.3% in the first quarter. Legato Capital Management LLC now owns 3,184,473 shares of the oil and gas company’s stock worth $140,100,000 after buying an additional 3,064,273 shares during the last quarter. Genesis Asset Managers LLP raised its position in shares of Ultrapar Participacoes by 228.4% in the second quarter. Genesis Asset Managers LLP now owns 3,070,132 shares of the oil and gas company’s stock worth $72,240,000 after buying an additional 2,135,204 shares during the last quarter. Ruffer LLP raised its position in shares of Ultrapar Participacoes by 193.3% in the first quarter. Ruffer LLP now owns 1,447,471 shares of the oil and gas company’s stock worth $33,249,000 after buying an additional 954,016 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Ultrapar Participacoes by 934.1% in the first quarter. Bank of America Corp DE now owns 1,017,169 shares of the oil and gas company’s stock worth $23,120,000 after buying an additional 918,809 shares during the last quarter. Institutional investors own 4.28% of the company’s stock.

About Ultrapar Participacoes

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