Zacks Investment Research upgraded shares of United Parcel Service, Inc. (NYSE:UPS) from a hold rating to a buy rating in a research report report published on Friday morning. The brokerage currently has $133.00 price objective on the transportation company’s stock.
According to Zacks, “United Parcel Service's shares have outperformed its industry as well as rival FedEx over the last three months. While the stock has gained 7.1%, the industry has advanced 5.3%. Shares of FedEx have gained only 1.5% in the period. In fact, UPS is leaving no stone unturned to perform well in the upcoming holiday season. It expects to benefit from the growth in ecommerce. Meanwhile, growth in export shipments continues to boost UPS. Additionally, the company’s efforts to reward its shareholders seem to be encouraging. Earlier this year, it hiked quarterly dividend by 6.4%. Furthermore, UPS' expansion efforts raise investors’ optimism. However, adverse foreign currency movements and high costs might hurt results in the third quarter of 2017. Results are scheduled to be revealed on Oct 26.”
A number of other equities research analysts also recently weighed in on UPS. BidaskClub upgraded United Parcel Service from a strong sell rating to a sell rating in a research report on Friday, August 11th. Citigroup Inc. upgraded United Parcel Service from a neutral rating to a buy rating and lifted their price objective for the stock from $115.00 to $128.00 in a report on Tuesday, August 8th. Robert W. Baird reiterated a hold rating and issued a $118.00 price objective on shares of United Parcel Service in a report on Sunday, October 1st. Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $123.00 price objective (up previously from $116.00) on shares of United Parcel Service in a report on Wednesday, September 20th. Finally, TheStreet upgraded United Parcel Service from a c rating to a b rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $117.00.
United Parcel Service (NYSE:UPS) opened at 117.70 on Friday. The firm has a market cap of $101.92 billion, a PE ratio of 28.94 and a beta of 0.90. The firm has a 50-day moving average price of $116.45 and a 200-day moving average price of $110.33. United Parcel Service has a one year low of $102.12 and a one year high of $120.80.
United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.12. United Parcel Service had a return on equity of 417.18% and a net margin of 5.68%. The business had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.49 billion. During the same quarter last year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts expect that United Parcel Service will post $6.01 EPS for the current fiscal year.
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In other news, insider James J. Barber sold 3,556 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $110.85, for a total value of $394,182.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alan Gershenhorn sold 17,699 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $114.10, for a total value of $2,019,455.90. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. V Wealth Management LLC purchased a new position in United Parcel Service in the 2nd quarter worth approximately $102,000. Parkside Financial Bank & Trust raised its holdings in United Parcel Service by 17.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,087 shares of the transportation company’s stock worth $116,000 after acquiring an additional 160 shares during the last quarter. First PREMIER Bank raised its holdings in United Parcel Service by 5.0% in the 2nd quarter. First PREMIER Bank now owns 1,047 shares of the transportation company’s stock worth $116,000 after acquiring an additional 50 shares during the last quarter. Ullmann Financial Group Inc. purchased a new position in United Parcel Service in the 1st quarter worth approximately $126,000. Finally, Winslow Evans & Crocker Inc. raised its holdings in United Parcel Service by 261.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,243 shares of the transportation company’s stock worth $137,000 after acquiring an additional 899 shares during the last quarter. 52.86% of the stock is currently owned by hedge funds and other institutional investors.
United Parcel Service Company Profile
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
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