United Parcel Service, Inc. (UPS) Earns Neutral Rating from Bank of America Corporation
United Parcel Service, Inc. (NYSE:UPS)‘s stock had its “neutral” rating reaffirmed by investment analysts at Bank of America Corporation in a research note issued on Friday. They presently have a $124.00 target price on the transportation company’s stock, up from their previous target price of $117.00. Bank of America Corporation’s price objective points to a potential upside of 5.35% from the stock’s current price.
UPS has been the topic of a number of other reports. Zacks Investment Research downgraded United Parcel Service from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub upgraded United Parcel Service from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Credit Suisse Group AG restated a “neutral” rating and set a $108.00 price objective on shares of United Parcel Service in a research report on Tuesday, August 15th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $123.00 price target (up from $116.00) on shares of United Parcel Service in a report on Wednesday, September 20th. Finally, Citigroup Inc. upgraded United Parcel Service from a “neutral” rating to a “buy” rating and increased their price target for the stock from $115.00 to $128.00 in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. United Parcel Service has a consensus rating of “Hold” and a consensus price target of $117.00.
Shares of United Parcel Service (NYSE UPS) traded down 0.42% during trading on Friday, hitting $117.70. The company had a trading volume of 2,824,203 shares. United Parcel Service has a 52 week low of $102.12 and a 52 week high of $120.80. The stock has a market capitalization of $101.92 billion, a P/E ratio of 28.94 and a beta of 0.90. The firm’s 50 day moving average is $116.32 and its 200-day moving average is $110.25. United Parcel Service also saw some unusual options trading on Wednesday. Investors bought 8,546 put options on the company. This is an increase of 417% compared to the typical volume of 1,652 put options.
United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. United Parcel Service had a return on equity of 417.18% and a net margin of 5.68%. The business had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.49 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that United Parcel Service will post $6.01 EPS for the current fiscal year.
In other United Parcel Service news, insider James J. Barber sold 3,556 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $110.85, for a total transaction of $394,182.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Alan Gershenhorn sold 17,699 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $114.10, for a total value of $2,019,455.90. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of The Ozarks boosted its position in United Parcel Service by 17.9% during the 1st quarter. Bank of The Ozarks now owns 5,823 shares of the transportation company’s stock valued at $625,000 after acquiring an additional 886 shares in the last quarter. Airain ltd acquired a new stake in shares of United Parcel Service in the 1st quarter worth $762,000. Vanguard Group Inc. boosted its position in shares of United Parcel Service by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 47,140,675 shares of the transportation company’s stock worth $5,058,196,000 after purchasing an additional 1,030,326 shares in the last quarter. Bragg Financial Advisors Inc boosted its position in shares of United Parcel Service by 374.8% in the 1st quarter. Bragg Financial Advisors Inc now owns 30,853 shares of the transportation company’s stock worth $657,000 after purchasing an additional 24,355 shares in the last quarter. Finally, IBM Retirement Fund boosted its position in shares of United Parcel Service by 72.5% in the 2nd quarter. IBM Retirement Fund now owns 16,882 shares of the transportation company’s stock worth $2,087,000 after purchasing an additional 7,094 shares in the last quarter. 52.86% of the stock is currently owned by institutional investors and hedge funds.
About United Parcel Service
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
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