Bank of America Boosts United Parcel Service (NYSE:UPS) Price Target to $150.00

United Parcel Service (NYSE:UPS) had its price objective upped by stock analysts at Bank of America from $132.00 to $150.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price objective indicates a potential upside of 9.15% from the company’s current price.

UPS has been the subject of a number of other research reports. BMO Capital Markets cut their price objective on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. Baird R W raised shares of United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 24th. Oppenheimer dropped their price target on shares of United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price target on shares of United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus increased their target price on shares of United Parcel Service from $151.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.43.

United Parcel Service Stock Performance

Shares of UPS stock opened at $137.43 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average of $130.89 and a two-hundred day moving average of $135.98. United Parcel Service has a 52 week low of $123.12 and a 52 week high of $163.82. The company has a market cap of $117.72 billion, a P/E ratio of 22.42, a PEG ratio of 1.93 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.11. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The company had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $22.10 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that United Parcel Service will post 7.44 EPS for the current year.

Institutional Trading of United Parcel Service

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Financial Advocates Investment Management lifted its holdings in shares of United Parcel Service by 112.8% during the 3rd quarter. Financial Advocates Investment Management now owns 8,242 shares of the transportation company’s stock worth $1,124,000 after acquiring an additional 4,368 shares during the period. Cornerstone Wealth Group LLC increased its position in United Parcel Service by 9.4% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 3,190 shares of the transportation company’s stock valued at $435,000 after acquiring an additional 273 shares during the period. TNF LLC acquired a new position in United Parcel Service in the 3rd quarter valued at approximately $214,000. SteelPeak Wealth LLC increased its position in shares of United Parcel Service by 881.7% during the third quarter. SteelPeak Wealth LLC now owns 31,769 shares of the transportation company’s stock worth $4,331,000 after buying an additional 28,533 shares during the period. Finally, Diversify Wealth Management LLC increased its position in shares of United Parcel Service by 13.0% during the third quarter. Diversify Wealth Management LLC now owns 15,142 shares of the transportation company’s stock worth $1,990,000 after buying an additional 1,743 shares during the period. Institutional investors own 60.26% 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 express letters, documents, small packages, and palletized freight through air and ground services in the United States.