United Parcel Service (NYSE:UPS – Get Free Report) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Briefing.com reports. They currently have a $185.00 price objective on the transportation company’s stock, down from their prior price objective of $198.00. UBS Group’s target price points to a potential upside of 2.44% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Raymond James reduced their target price on United Parcel Service from $207.00 to $205.00 in a report on Wednesday, April 26th. Wolfe Research upgraded United Parcel Service from an “underperform” rating to a “market perform” rating in a report on Tuesday, April 25th. Stifel Nicolaus boosted their target price on United Parcel Service to $203.00 in a report on Wednesday, July 26th. BMO Capital Markets dropped their price target on shares of United Parcel Service from $185.00 to $180.00 in a research note on Wednesday, April 26th. Finally, Credit Suisse Group lowered shares of United Parcel Service from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $200.00 to $204.00 in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, United Parcel Service presently has a consensus rating of “Hold” and an average target price of $189.04.
United Parcel Service Price Performance
United Parcel Service (NYSE:UPS – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. The business had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $23.04 billion. United Parcel Service had a return on equity of 57.68% and a net margin of 10.90%. The business’s revenue was down 10.9% compared to the same quarter last year. During the same period last year, the business posted $3.29 EPS. On average, research analysts expect that United Parcel Service will post 10.66 EPS for the current fiscal year.
Institutional Investors Weigh In On United Parcel Service
Several hedge funds and other institutional investors have recently modified their holdings of UPS. WFA of San Diego LLC bought a new stake in United Parcel Service in the 4th quarter worth approximately $39,000. Journey Advisory Group LLC boosted its holdings in United Parcel Service by 7.8% in the first quarter. Journey Advisory Group LLC now owns 1,990 shares of the transportation company’s stock worth $386,000 after acquiring an additional 144 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new position in shares of United Parcel Service during the first quarter valued at $666,000. DnB Asset Management AS lifted its holdings in shares of United Parcel Service by 0.6% during the first quarter. DnB Asset Management AS now owns 173,857 shares of the transportation company’s stock valued at $33,727,000 after purchasing an additional 1,024 shares in the last quarter. Finally, ARK Investment Management LLC increased its position in United Parcel Service by 2.3% during the first quarter. ARK Investment Management LLC now owns 12,634 shares of the transportation company’s stock valued at $2,451,000 after acquiring an additional 289 shares during the last quarter. Institutional investors own 58.94% of the company’s stock.
United Parcel Service Company Profile
United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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