Ultrapar Participacoes S.A. (NYSE:UGP) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. HSBC Holdings plc cut shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Bank of America Corporation cut shares of Ultrapar Participacoes from a “neutral” rating to an “underperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Ultrapar Participacoes (UGP) traded up 1.56% on Friday, hitting $22.20. 277,857 shares of the company were exchanged. Ultrapar Participacoes has a 52 week low of $18.38 and a 52 week high of $24.79. The company has a 50 day moving average price of $23.37 and a 200-day moving average price of $22.62. The stock has a market capitalization of $12.06 billion, a P/E ratio of 24.53 and a beta of 1.12.

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A number of institutional investors have recently bought and sold shares of UGP. PNC Financial Services Group Inc. boosted its position in shares of Ultrapar Participacoes by 13.2% in the first quarter. PNC Financial Services Group Inc. now owns 6,695 shares of the oil and gas company’s stock valued at $151,000 after buying an additional 782 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Ultrapar Participacoes by 5.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,938 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 400 shares during the period. CIBC World Markets Inc. acquired a new position in shares of Ultrapar Participacoes during the second quarter valued at $210,000. Wetherby Asset Management Inc. acquired a new position in shares of Ultrapar Participacoes during the first quarter valued at $215,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Ultrapar Participacoes by 33.7% in the first quarter. Ameriprise Financial Inc. now owns 13,024 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 3,280 shares during the period. Institutional investors and hedge funds own 4.28% of the company’s stock.

About Ultrapar Participacoes

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