JPMorgan Chase & Co. Issues Pessimistic Forecast for United Parcel Service (NYSE:UPS) Stock Price

United Parcel Service (NYSE:UPS) had its price objective decreased by JPMorgan Chase & Co. from $96.00 to $85.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 0.33% from the company’s current price.

A number of other research firms have also recently weighed in on UPS. Wolfe Research cut their price objective on shares of United Parcel Service from $113.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, July 1st. BNP Paribas Exane upgraded shares of United Parcel Service from an “underperform” rating to a “neutral” rating and set a $100.00 price target on the stock in a research note on Thursday, July 3rd. Barclays decreased their price objective on shares of United Parcel Service from $90.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, July 31st. Truist Financial dropped their price objective on United Parcel Service from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded United Parcel Service from a “hold” rating to a “sell” rating in a report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.38.

United Parcel Service Stock Down 1.1%

Shares of NYSE UPS opened at $85.28 on Wednesday. The business has a 50-day moving average of $85.77 and a two-hundred day moving average of $94.64. The company has a market capitalization of $72.28 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.59 and a beta of 1.10. United Parcel Service has a 1 year low of $82.00 and a 1 year high of $145.01. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). The business had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.United Parcel Service’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business posted $1.79 EPS. On average, analysts forecast that United Parcel Service will post 7.95 earnings per share for the current fiscal year.

Insider Activity at United Parcel Service

In other news, CEO Carol B. Tome bought 11,682 shares of United Parcel Service stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the purchase, the chief executive officer owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. The trade was a 89.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christiana Smith Shi bought 500 shares of the stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the acquisition, the director owned 500 shares of the company’s stock, valued at approximately $44,085. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 17,182 shares of company stock worth $1,477,382 in the last three months. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On United Parcel Service

Institutional investors have recently added to or reduced their stakes in the business. Evelyn Partners Investment Management Europe Ltd lifted its holdings in shares of United Parcel Service by 110.1% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 250 shares of the transportation company’s stock valued at $25,000 after buying an additional 131 shares during the period. Graybill Wealth Management LTD. purchased a new position in United Parcel Service in the first quarter worth $26,000. Mid American Wealth Advisory Group Inc. acquired a new stake in United Parcel Service in the second quarter valued at $26,000. Citizens National Bank Trust Department boosted its position in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock worth $27,000 after purchasing an additional 210 shares in the last quarter. Finally, Hemington Wealth Management grew its stake in shares of United Parcel Service by 68.9% during the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock worth $31,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

About United Parcel Service

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 express letters, documents, small packages, and palletized freight through air and ground services in the United States.