#1 - United Parcel Service (NYSE:UPS)
United Parcel Service Inc. (NYSE: UPS) is one of the first names that companies are looking at as alternatives to the ports. Even though UPS sold its freight business in 2021, the company is still among the leaders in international airfreight. And although the higher cost of air freight may not be a solution for every company, many companies, especially those with perishable items, may have no other alternative.
UPS stock is down 14.6% in 2024, which has turned the stock’s performance negative over the last 12 months. However, the stock has gained 4.4% in the last month with no news to speak of. One plausible theory is that with the stock trading around 40% lower than its all-time high set in 2022, it was simply oversold.
But with no news in particular, institutional investors may have been front running the likelihood of a strike. That buying activity is likely to accelerate, which makes UPS a stock to watch ahead of its earnings in late October.
About United Parcel Service
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.
Read More - Current Price
- $134.31
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 12 Buy Ratings, 9 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $151.71 (13.0% Upside)
