Ultrapar Participacoes S.A. (NYSE:UGP) Given Consensus Rating of “Hold” by Brokerages

Ultrapar Participacoes S.A. (NYSE:UGP) has received an average rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company.

UGP has been the topic of a number of recent research reports. Zacks Investment Research downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. BidaskClub downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. HSBC Holdings plc downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Bank of America Corporation downgraded Ultrapar Participacoes from a “neutral” rating to an “underperform” rating in a research note on Thursday.

Ultrapar Participacoes (NYSE:UGP) traded down 4.99% on Thursday, hitting $21.50. The stock had a trading volume of 308,711 shares. The company’s 50 day moving average is $23.40 and its 200-day moving average is $22.63. Ultrapar Participacoes has a 12 month low of $18.38 and a 12 month high of $24.79. The stock has a market cap of $11.68 billion, a P/E ratio of 23.76 and a beta of 1.12.

Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Ultrapar Participacoes during the fourth quarter worth approximately $502,000. Manning & Napier Advisors LLC increased its stake in shares of Ultrapar Participacoes by 21.0% in the first quarter. Manning & Napier Advisors LLC now owns 48,654 shares of the oil and gas company’s stock worth $1,105,000 after buying an additional 8,432 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Ultrapar Participacoes by 0.7% in the first quarter. Capstone Asset Management Co. now owns 71,767 shares of the oil and gas company’s stock worth $1,631,000 after buying an additional 490 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Ultrapar Participacoes during the first quarter worth approximately $668,000. Finally, Legato Capital Management LLC increased its stake 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. Hedge funds and other institutional investors own 4.28% of the company’s stock.

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