United Parcel Service (NYSE:UPS) Price Target Cut to $120.00 by Analysts at Wells Fargo & Company

United Parcel Service (NYSE:UPS - Get Free Report) had its price objective lowered by equities researchers at Wells Fargo & Company from $128.00 to $120.00 in a note issued to investors on Thursday, March 27th,Benzinga reports. The firm currently has an "overweight" rating on the transportation company's stock. Wells Fargo & Company's price target indicates a potential upside of 17.35% from the company's previous close.

Several other brokerages have also issued reports on UPS. UBS Group reduced their target price on shares of United Parcel Service from $170.00 to $141.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Truist Financial started coverage on shares of United Parcel Service in a research report on Thursday, March 13th. They set a "buy" rating and a $140.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on United Parcel Service from $135.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Raymond James reduced their target price on United Parcel Service from $155.00 to $145.00 and set a "strong-buy" rating on the stock in a report on Friday, January 31st. Finally, Robert W. Baird downgraded shares of United Parcel Service from an "outperform" rating to a "neutral" rating and cut their price target for the company from $160.00 to $130.00 in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service currently has an average rating of "Moderate Buy" and an average target price of $135.22.

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United Parcel Service Price Performance

Shares of NYSE:UPS traded down $7.94 during midday trading on Thursday, reaching $102.26. The company's stock had a trading volume of 5,193,552 shares, compared to its average volume of 4,672,665. United Parcel Service has a fifty-two week low of $101.55 and a fifty-two week high of $154.29. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The business's fifty day simple moving average is $117.20 and its 200-day simple moving average is $126.04. The company has a market capitalization of $87.35 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same period in the previous year, the firm posted $2.47 earnings per share. As a group, equities research analysts expect that United Parcel Service will post 7.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UPS. Fisher Asset Management LLC increased its holdings in United Parcel Service by 5.0% in the 3rd quarter. Fisher Asset Management LLC now owns 124,070 shares of the transportation company's stock worth $16,916,000 after purchasing an additional 5,956 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in United Parcel Service by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 586,735 shares of the transportation company's stock valued at $79,995,000 after buying an additional 17,378 shares during the last quarter. Townsquare Capital LLC grew its holdings in United Parcel Service by 7.0% during the 3rd quarter. Townsquare Capital LLC now owns 82,858 shares of the transportation company's stock worth $11,297,000 after acquiring an additional 5,444 shares during the last quarter. CreativeOne Wealth LLC increased its position in United Parcel Service by 23.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 14,532 shares of the transportation company's stock valued at $1,981,000 after acquiring an additional 2,720 shares during the period. Finally, Providence Capital Advisors LLC raised its stake in shares of United Parcel Service by 27.7% during the third quarter. Providence Capital Advisors LLC now owns 25,795 shares of the transportation company's stock valued at $3,517,000 after acquiring an additional 5,597 shares during 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.