HSBC Upgrades Ultrapar (UGP) to Buy

Ultrapar (NYSE:UGP) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued on Friday.

UGP has been the subject of a number of other reports. Zacks Investment Research lowered shares of Ultrapar from a “hold” rating to a “sell” rating in a report on Friday, April 20th. UBS lowered shares of Ultrapar from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 9th. Finally, ValuEngine lowered shares of Ultrapar from a “sell” rating to a “strong sell” rating in a report on Thursday, May 3rd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.00.

Ultrapar traded down $0.13, reaching $14.35, on Friday, according to MarketBeat. 15,865 shares of the stock were exchanged, compared to its average volume of 550,378. The company has a current ratio of 2.74, a quick ratio of 2.15 and a debt-to-equity ratio of 1.26. Ultrapar has a one year low of $14.65 and a one year high of $14.77. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 15.77 and a beta of 1.20.

Ultrapar (NYSE:UGP) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Ultrapar had a net margin of 1.57% and a return on equity of 13.69%. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.60 billion. sell-side analysts forecast that Ultrapar will post 0.92 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in Ultrapar during the 4th quarter valued at approximately $254,000. Barclays PLC grew its holdings in Ultrapar by 334,940.0% during the 1st quarter. Barclays PLC now owns 16,752 shares of the oil and gas company’s stock valued at $362,000 after buying an additional 16,747 shares in the last quarter. Boston Common Asset Management LLC grew its holdings in Ultrapar by 19.9% during the 4th quarter. Boston Common Asset Management LLC now owns 18,525 shares of the oil and gas company’s stock valued at $421,000 after buying an additional 3,075 shares in the last quarter. ING Groep NV grew its holdings in shares of Ultrapar by 18.6% in the fourth quarter. ING Groep NV now owns 19,303 shares of the oil and gas company’s stock valued at $439,000 after purchasing an additional 3,026 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Ultrapar in the first quarter valued at $447,000. 4.41% of the stock is owned by institutional investors and hedge funds.

Ultrapar Company Profile

Ultrapar Participações SA engages in gas distribution, fuel distribution, chemicals, storage, and drugstores businesses in Brazil, Mexico, United Stated, Uruguay, and Venezuela. The company's Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers, as well as independent dealers, primarily in the South, Southeast, and Northeast regions of Brazil.

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