10 Oversold Midcap Stocks to Buy Right Now

3. Ultrapar Participações S.A. (NYSE:UGP)

Forward P/E: 8.57

Analysts Upside Potential as of November 14: 66.20%

Year to date performance as of November 14: -33.70%

Ultrapar Participações S.A. (NYSE:UGP) is an energy company that distributes liquefied petroleum gas to residential, commercial, and industrial consumers. It is one of the most oversold mid-cap stocks, going by the 33.80% year-to-date drop.

Despite underperforming due to energy sector volatility and oil prices dropping below $70 a barrel, Ultrapar Participações S.A. (NYSE:UGP) remains a strong choice. It is one of Brazil’s top three fuel distribution and storage companies, with over 7,000 service stations and a 19% market share in vehicle fuel distribution. Additionally, it operates one of the largest LPG distribution networks and has an extensive bulk liquids storage terminal network in Brazil.

While trading at a discount with a price-to-earnings multiple of 8.57, it rewards investors with a 3.51% dividend yield, affirming the strength of its balance sheet. Additionally, analysts on Wall Street have an average price target of $5.95, implying a 66.20% upside potential as of November 14, 2024.