Ultrapar Participacoes (NYSE:UGP) Sees Unusually-High Trading Volume – Here’s Why

Ultrapar Participacoes S.A. (NYSE:UGP) saw unusually-strong trading volume on Tuesday . 5,758,262 shares changed hands during mid-day trading, an increase of 107% from the previous session’s volume of 2,775,495 shares.The stock last traded at $5.8450 and had previously closed at $6.00.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HSBC cut shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating and lifted their price target for the company from $4.90 to $6.00 in a research report on Wednesday, April 8th. Wall Street Zen upgraded Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Bank of America upgraded Ultrapar Participacoes from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $6.80 to $7.40 in a research note on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research note on Monday, June 8th. Finally, UBS Group lifted their price target on shares of Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.32.

Ultrapar Participacoes Trading Down 0.7%

The company has a current ratio of 1.67, a quick ratio of 1.30 and a debt-to-equity ratio of 0.89. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The firm has a 50-day moving average price of $5.33 and a 200 day moving average price of $5.11.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Ultrapar Participacoes by 117.4% during the third quarter. JPMorgan Chase & Co. now owns 4,084,186 shares of the oil and gas company’s stock worth $16,745,000 after acquiring an additional 2,205,282 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Ultrapar Participacoes during the 3rd quarter valued at approximately $14,639,000. Kapitalo Investimentos Ltda grew its stake in Ultrapar Participacoes by 350.7% during the 4th quarter. Kapitalo Investimentos Ltda now owns 874,882 shares of the oil and gas company’s stock worth $3,298,000 after buying an additional 680,782 shares during the last quarter. Banco BTG Pactual S.A. acquired a new position in shares of Ultrapar Participacoes during the fourth quarter valued at $2,631,000. Finally, Capital Innovations LLC bought a new position in shares of Ultrapar Participacoes during the fourth quarter worth about $1,528,000. 3.58% of the stock is currently owned by institutional investors.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.