Ultrapar Participações (NYSE:UGP) Reaches New 1-Year Low – Here’s Why

Ultrapar Participações S.A. (NYSE:UGP)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.08 and last traded at $3.10, with a volume of 1632452 shares trading hands. The stock had previously closed at $3.26.

Analysts Set New Price Targets

Separately, StockNews.com cut Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.20.

Ultrapar Participações Stock Down 6.1 %

The firm’s 50-day simple moving average is $3.61 and its 200 day simple moving average is $4.01. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. The stock has a market capitalization of $3.41 billion, a P/E ratio of 6.65, a PEG ratio of 2.41 and a beta of 1.61.

Institutional Trading of Ultrapar Participações

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hennessy Advisors Inc. bought a new position in shares of Ultrapar Participações in the second quarter valued at $5,887,000. Marshall Wace LLP raised its holdings in shares of Ultrapar Participações by 332.6% in the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock valued at $5,591,000 after purchasing an additional 1,099,433 shares during the period. Renaissance Technologies LLC lifted its stake in Ultrapar Participações by 57.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after purchasing an additional 898,600 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Ultrapar Participações during the third quarter worth about $1,595,000. Finally, Acadian Asset Management LLC increased its position in Ultrapar Participações by 8.4% during the second quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock worth $14,713,000 after buying an additional 293,036 shares during the last quarter. Institutional investors own 3.58% of the company’s stock.

About Ultrapar Participações

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.