Ultrapar Participações (NYSE:UGP) Shares Gap Down – Here’s What Happened

Ultrapar Participações S.A. (NYSE:UGP) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.75, but opened at $2.68. Ultrapar Participações shares last traded at $2.65, with a volume of 131,604 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.20.

Ultrapar Participações Stock Up 3.1 %

The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $3.32 and a two-hundred day moving average of $3.82. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.21 and a beta of 1.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new position in Ultrapar Participações in the third quarter valued at approximately $46,000. Freedom Investment Management Inc. purchased a new stake in Ultrapar Participações in the 3rd quarter valued at about $48,000. Cutter & CO Brokerage Inc. acquired a new position in Ultrapar Participações in the second quarter valued at about $57,000. D Orazio & Associates Inc. lifted its position in Ultrapar Participações by 30.3% in the second quarter. D Orazio & Associates Inc. now owns 15,046 shares of the oil and gas company’s stock valued at $59,000 after buying an additional 3,498 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Ultrapar Participações by 567.5% during the second quarter. Blue Trust Inc. now owns 15,833 shares of the oil and gas company’s stock worth $62,000 after buying an additional 13,461 shares during the period. Hedge funds and other institutional investors own 3.58% of the company’s stock.

About Ultrapar Participações

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.