United Parcel Service (NYSE:UPS) Price Target Raised to $160.00 at Bank of America

United Parcel Service (NYSE:UPS) had its price target boosted by Bank of America from $157.00 to $160.00 in a research report released on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the transportation company’s stock.

Several other brokerages have also issued reports on UPS. HSBC dropped their target price on shares of United Parcel Service from $155.00 to $150.00 and set a hold rating for the company in a research report on Thursday, March 28th. BMO Capital Markets lifted their target price on shares of United Parcel Service from $165.00 to $169.00 and gave the company a market perform rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of United Parcel Service from $95.00 to $100.00 and gave the stock an underweight rating in a research note on Wednesday, March 27th. Daiwa Capital Markets downgraded shares of United Parcel Service from an outperform rating to a neutral rating and set a $155.00 price target on the stock. in a research note on Tuesday, December 26th. Finally, Argus downgraded shares of United Parcel Service from a buy rating to a hold rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, United Parcel Service has a consensus rating of Hold and an average target price of $166.09.

United Parcel Service Price Performance

UPS stock opened at $146.61 on Wednesday. The firm has a 50 day moving average of $149.57 and a 200-day moving average of $151.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.11. United Parcel Service has a 12 month low of $133.68 and a 12 month high of $192.98. The firm has a market capitalization of $125.01 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.10. United Parcel Service had a net margin of 6.60% and a return on equity of 37.42%. The business had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same period in the previous year, the business posted $2.20 earnings per share. United Parcel Service’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts predict that United Parcel Service will post 8.2 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Tuesday, February 20th were given a dividend of $1.63 per share. This is an increase from United Parcel Service’s previous quarterly dividend of $1.62. This represents a $6.52 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Friday, February 16th. United Parcel Service’s payout ratio is presently 94.49%.

Insider Buying and Selling at United Parcel Service

In related news, Director Eva C. Boratto acquired 1,400 shares of United Parcel Service stock in a transaction on Friday, February 2nd. The shares were acquired at an average cost of $142.30 per share, with a total value of $199,220.00. Following the transaction, the director now owns 1,400 shares in the company, valued at $199,220. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Trading of United Parcel Service

A number of hedge funds have recently modified their holdings of UPS. GHP Investment Advisors Inc. boosted its holdings in shares of United Parcel Service by 2.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 16,673 shares of the transportation company’s stock valued at $2,586,000 after buying an additional 371 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in United Parcel Service by 2.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,058 shares of the transportation company’s stock worth $944,000 after purchasing an additional 153 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in United Parcel Service by 0.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 42,132 shares of the transportation company’s stock worth $6,567,000 after purchasing an additional 274 shares in the last quarter. Strategic Blueprint LLC boosted its stake in United Parcel Service by 23.4% in the 3rd quarter. Strategic Blueprint LLC now owns 7,789 shares of the transportation company’s stock worth $1,214,000 after purchasing an additional 1,476 shares in the last quarter. Finally, ARK Investment Management LLC boosted its stake in United Parcel Service by 7.3% in the 3rd quarter. ARK Investment Management LLC now owns 11,954 shares of the transportation company’s stock worth $1,863,000 after purchasing an additional 817 shares in the last quarter. 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.