Ultrapar Participações (NYSE:UGP) Sets New 52-Week Low – Time to Sell?

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded 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 issued a buy rating to the company. Based on data from MarketBeat.com, Ultrapar Participações has an average rating of “Hold” and an average price target of $5.20.

Ultrapar Participações Trading Down 6.1 %

The business’s 50 day moving average price is $3.65 and its two-hundred day moving average price is $4.03. 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 company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 2.50 and a beta of 1.61.

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds have recently modified their holdings of UGP. Sequoia Financial Advisors LLC purchased a new stake in Ultrapar Participações during the third quarter valued at about $46,000. Freedom Investment Management Inc. purchased a new stake in shares of Ultrapar Participações in the third quarter worth approximately $48,000. Cutter & CO Brokerage Inc. acquired a new stake in shares of Ultrapar Participações during the second quarter worth approximately $57,000. D Orazio & Associates Inc. grew its position in Ultrapar Participações by 30.3% during the second quarter. D Orazio & Associates Inc. now owns 15,046 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 3,498 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Ultrapar Participações by 567.5% in the 2nd quarter. Blue Trust Inc. now owns 15,833 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 13,461 shares during the period. 3.58% of the stock is currently owned by institutional investors and hedge funds.

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.