Zacks Investment Research Upgrades Ultrapar Participacoes S.A. (UGP) to “Buy”, Report finds

Zacks Investment Research Upgrades Ultrapar Participacoes S.A. (UGP) to “Buy”, Report finds

Ultrapar Participacoes S.A. (NYSE:UGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $24.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.15% from the company’s previous close.

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) “

Separately, Citigroup Inc. raised shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating in a research report on Friday, November 18th.

Shares of Ultrapar Participacoes (NYSE:UGP) traded up 1.95% during midday trading on Wednesday, hitting $21.40. 385,308 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $20.91 and its 200-day moving average is $21.58. The stock has a market cap of $11.62 billion, a PE ratio of 22.53 and a beta of 1.26. Ultrapar Participacoes has a 1-year low of $13.99 and a 1-year high of $24.50.

Several large investors have recently added to or reduced their stakes in the company. Aberdeen Asset Management PLC UK boosted its stake in Ultrapar Participacoes by 116.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 3,939,817 shares of the company’s stock valued at $81,711,000 after buying an additional 2,115,819 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in Ultrapar Participacoes by 1.9% in the third quarter. Manning & Napier Advisors LLC now owns 62,290 shares of the company’s stock valued at $1,362,000 after buying an additional 1,142 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Ultrapar Participacoes by 4.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,538 shares of the company’s stock valued at $156,000 after buying an additional 350 shares in the last quarter. Thomas White International Ltd. boosted its stake in Ultrapar Participacoes by 15.7% in the second quarter. Thomas White International Ltd. now owns 36,752 shares of the company’s stock valued at $809,000 after buying an additional 4,974 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Ultrapar Participacoes by 42.5% in the third quarter. Advisors Asset Management Inc. now owns 139,471 shares of the company’s stock valued at $3,053,000 after buying an additional 41,574 shares in the last quarter. 3.13% of the stock is currently owned by institutional investors and hedge funds.

About Ultrapar Participacoes

Get a free copy of the Zacks research report on Ultrapar Participacoes (UGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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Zacks Investment Research Upgrades Ultrapar Participacoes S.A. (UGP) to “Buy”

Zacks Investment Research Upgrades Ultrapar Participacoes S.A. (UGP) to “Buy”

Ultrapar Participacoes S.A. (NYSE:UGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $24.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.15% from the company’s previous close.

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) “

Separately, Citigroup Inc. raised shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating in a research report on Friday, November 18th.

Shares of Ultrapar Participacoes (NYSE:UGP) traded up 1.95% during midday trading on Wednesday, hitting $21.40. 385,308 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $20.91 and its 200-day moving average is $21.58. The stock has a market cap of $11.62 billion, a PE ratio of 22.53 and a beta of 1.26. Ultrapar Participacoes has a 1-year low of $13.99 and a 1-year high of $24.50.

Several large investors have recently added to or reduced their stakes in the company. Aberdeen Asset Management PLC UK boosted its stake in Ultrapar Participacoes by 116.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 3,939,817 shares of the company’s stock valued at $81,711,000 after buying an additional 2,115,819 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in Ultrapar Participacoes by 1.9% in the third quarter. Manning & Napier Advisors LLC now owns 62,290 shares of the company’s stock valued at $1,362,000 after buying an additional 1,142 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Ultrapar Participacoes by 4.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,538 shares of the company’s stock valued at $156,000 after buying an additional 350 shares in the last quarter. Thomas White International Ltd. boosted its stake in Ultrapar Participacoes by 15.7% in the second quarter. Thomas White International Ltd. now owns 36,752 shares of the company’s stock valued at $809,000 after buying an additional 4,974 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Ultrapar Participacoes by 42.5% in the third quarter. Advisors Asset Management Inc. now owns 139,471 shares of the company’s stock valued at $3,053,000 after buying an additional 41,574 shares in the last quarter. 3.13% of the stock is currently owned by institutional investors and hedge funds.

About Ultrapar Participacoes

Get a free copy of the Zacks research report on Ultrapar Participacoes (UGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Related posts

Leave a Comment