United Parcel Service (NYSE:UPS) Now Covered by HSBC

Posted by on Oct 1st, 2023

Investment analysts at HSBC began coverage on shares of United Parcel Service (NYSE:UPS – Get Free Report) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $170.00 price target on the transportation company’s stock. HSBC’s target price indicates a potential upside of 9.07% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Barclays cut their price objective on shares of United Parcel Service from $180.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on United Parcel Service from $181.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Credit Suisse Group dropped their target price on United Parcel Service from $204.00 to $194.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. UBS Group downgraded United Parcel Service from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $198.00 to $185.00 in a research report on Wednesday, August 9th. Finally, Citigroup lowered their price objective on shares of United Parcel Service from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $185.57.

Read Our Latest Research Report on UPS

United Parcel Service Stock Up 0.2 %

NYSE:UPS opened at $155.87 on Friday. United Parcel Service has a 1 year low of $150.54 and a 1 year high of $197.80. The stock has a 50-day moving average price of $169.36 and a two-hundred day moving average price of $176.30. The stock has a market cap of $133.18 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.64 and a beta of 1.09. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.97.

United Parcel Service (NYSE:UPS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.05. The business had revenue of $22.10 billion during the quarter, compared to analyst estimates of $23.04 billion. United Parcel Service had a return on equity of 51.28% and a net margin of 10.41%. United Parcel Service’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.29 EPS. As a group, equities analysts expect that United Parcel Service will post 9.46 earnings per share for the current year.

Insider Transactions at United Parcel Service

In other news, insider Nando Cesarone sold 22,825 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $171.70, for a total transaction of $3,919,052.50. Following the transaction, the insider now owns 1 shares in the company, valued at $171.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On United Parcel Service

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in shares of United Parcel Service by 210.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,943,616 shares of the transportation company’s stock valued at $2,878,723,000 after buying an additional 10,134,386 shares in the last quarter. Norges Bank acquired a new position in United Parcel Service in the 4th quarter valued at $1,255,623,000. Moneta Group Investment Advisors LLC lifted its position in shares of United Parcel Service by 105,818.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,215,560 shares of the transportation company’s stock valued at $732,833,000 after acquiring an additional 4,211,580 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of United Parcel Service by 83,903.7% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,134,664 shares of the transportation company’s stock worth $741,139,000 after purchasing an additional 4,129,742 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of United Parcel Service by 90.8% in the second quarter. Capital Research Global Investors now owns 4,825,039 shares of the transportation company’s stock worth $864,888,000 after purchasing an additional 2,295,588 shares during the period. 58.45% of the stock is owned by institutional investors.

About United Parcel Service

(Get Free Report)

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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Analyst Recommendations for United Parcel Service (NYSE:UPS)

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