Ultrapar Participacoes S.A. (UGP) Rating Lowered to Sell at Zacks Investment Research
Ultrapar Participacoes S.A. (NYSE:UGP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
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. lowered shares of Ultrapar Participacoes from a “buy” rating to a “neutral” rating in a report on Tuesday, April 11th.
Ultrapar Participacoes (UGP) traded down 2.15% on Thursday, hitting $24.08. 60,779 shares of the stock traded hands. The firm has a market capitalization of $13.08 billion, a PE ratio of 28.13 and a beta of 1.12. Ultrapar Participacoes has a 52 week low of $18.38 and a 52 week high of $24.78. The stock has a 50 day moving average of $23.34 and a 200 day moving average of $22.02.
Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Ultrapar Participacoes during the fourth quarter worth $502,000. Comerica Bank increased its stake in Ultrapar Participacoes by 12.7% in the fourth quarter. Comerica Bank now owns 31,538 shares of the oil and gas company’s stock worth $658,000 after buying an additional 3,556 shares in the last quarter. State Street Corp increased its stake in Ultrapar Participacoes by 3.2% in the fourth quarter. State Street Corp now owns 819,254 shares of the oil and gas company’s stock worth $16,991,000 after buying an additional 25,052 shares in the last quarter. Janus Capital Management LLC acquired a new stake in Ultrapar Participacoes during the fourth quarter worth $1,049,000. Finally, Manning & Napier Advisors LLC increased its stake in 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 in the last quarter. 3.87% of the stock is currently owned by hedge funds and other institutional investors.
About Ultrapar Participacoes
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