Wells Fargo & Company Reiterates Equal Weight Rating for United Parcel Service (NYSE:UPS)

United Parcel Service (NYSE:UPS - Get Free Report)'s stock had its "equal weight" rating reissued by analysts at Wells Fargo & Company in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $98.00 price objective on the transportation company's stock, down from their previous price objective of $120.00. Wells Fargo & Company's target price indicates a potential upside of 0.14% from the company's previous close.

A number of other analysts have also commented on the stock. The Goldman Sachs Group reduced their price objective on shares of United Parcel Service from $166.00 to $147.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Baird R W cut shares of United Parcel Service from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on United Parcel Service from $120.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Stifel Nicolaus dropped their price target on United Parcel Service from $156.00 to $153.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Finally, Truist Financial started coverage on United Parcel Service in a research note on Thursday, March 13th. They set a "buy" rating and a $140.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $126.41.

United Parcel Service Price Performance

Shares of NYSE:UPS traded down $1.06 during trading hours on Tuesday, hitting $97.86. 4,573,715 shares of the company's stock traded hands, compared to its average volume of 4,833,118. The company's fifty day simple moving average is $108.58 and its two-hundred day simple moving average is $121.56. The company has a market cap of $83.59 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. United Parcel Service has a 52 week low of $90.55 and a 52 week high of $153.42.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) 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 last year, the business earned $2.47 EPS. As a group, equities analysts anticipate that United Parcel Service will post 7.95 EPS for the current fiscal year.

Institutional Investors Weigh In On United Parcel Service

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in United Parcel Service by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company's stock worth $113,064,000 after buying an additional 33,989 shares during the period. Onyx Bridge Wealth Group LLC acquired a new position in United Parcel Service during the 4th quarter valued at $461,000. Synovus Financial Corp boosted its holdings in United Parcel Service by 8.6% in the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company's stock valued at $11,934,000 after purchasing an additional 6,941 shares during the period. HF Advisory Group LLC bought a new position in shares of United Parcel Service during the 4th quarter worth about $1,305,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of United Parcel Service by 27.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company's stock valued at $16,304,000 after buying an additional 28,108 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

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.