Zacks Investment Research Downgrades Ultrapar Participacoes (UGP) to Hold

Ultrapar Participacoes (NYSE:UGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “Ultrapar Participacoes S.A., a major Brazilian industrial group, is one of the largest distributors of liquefied petroleum gas in Brazil and a leading producer of petrochemicals and chemical. Ultrapar is also engaged in the storage and transportation of liquefied petroleum gas and petrochemical and chemical products. (PRESS RELEASE) “

Shares of Ultrapar Participacoes (UGP) opened at $24.05 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.98 and a debt-to-equity ratio of 1.11. Ultrapar Participacoes has a twelve month low of $20.09 and a twelve month high of $25.39. The stock has a market capitalization of $13,381.54, a P/E ratio of 26.43 and a beta of 1.05.

Hedge funds have recently bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new stake in Ultrapar Participacoes during the 3rd quarter worth approximately $1,865,000. SG Americas Securities LLC increased its holdings in Ultrapar Participacoes by 45.2% during the 3rd quarter. SG Americas Securities LLC now owns 71,226 shares of the oil and gas company’s stock worth $1,697,000 after purchasing an additional 22,175 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Ultrapar Participacoes by 6.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 439,901 shares of the oil and gas company’s stock worth $10,479,000 after purchasing an additional 24,882 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Ultrapar Participacoes in the 2nd quarter valued at approximately $522,000. Finally, State Street Corp increased its holdings in shares of Ultrapar Participacoes by 3.7% in the 2nd quarter. State Street Corp now owns 962,753 shares of the oil and gas company’s stock valued at $22,652,000 after acquiring an additional 34,776 shares during the last quarter. Institutional investors own 4.38% of the company’s stock.

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Ultrapar Participacoes Company Profile

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