Ultrapar Participacoes (NYSE:UGP) Sets New 52-Week High – Still a Buy?

Shares of Ultrapar Participacoes S.A. (NYSE:UGP) hit a new 52-week high on Wednesday . The stock traded as high as $6.41 and last traded at $6.4040, with a volume of 320389 shares trading hands. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on UGP. UBS Group lifted their price target on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Wall Street Zen raised Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. HSBC lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating and increased their price target for the stock from $4.90 to $6.00 in a research note on Wednesday, April 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Ultrapar Participacoes in a report on Monday, June 8th. Finally, Bank of America upgraded shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and upped their price target for the company from $6.80 to $7.40 in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.32.

Ultrapar Participacoes Trading Up 1.7%

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.67 and a quick ratio of 1.30. The stock has a market cap of $7.12 billion, a P/E ratio of 12.73, a PEG ratio of 0.51 and a beta of 0.71. The business’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $5.21.

Hedge Funds Weigh In On Ultrapar Participacoes

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its holdings in shares of Ultrapar Participacoes by 2.8% in the first quarter. Sequoia Financial Advisors LLC now owns 64,807 shares of the oil and gas company’s stock valued at $357,000 after purchasing an additional 1,784 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Ultrapar Participacoes by 45.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 1,982 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Ultrapar Participacoes by 0.7% in the 1st quarter. Hsbc Holdings PLC now owns 450,668 shares of the oil and gas company’s stock valued at $2,483,000 after acquiring an additional 3,050 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Ultrapar Participacoes by 32.3% in the 4th quarter. Franklin Resources Inc. now owns 19,210 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 4,688 shares during the period. Finally, Sei Investments Co. increased its position in shares of Ultrapar Participacoes by 6.0% in the 1st quarter. Sei Investments Co. now owns 84,176 shares of the oil and gas company’s stock valued at $464,000 after buying an additional 4,779 shares in the last quarter. 3.58% of the stock is currently owned by institutional investors and hedge funds.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.