Bank of America Trims United Parcel Service (NYSE:UPS) Target Price to $158.00

United Parcel Service (NYSE:UPS) had its target price decreased by equities researchers at Bank of America from $160.00 to $158.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s target price would indicate a potential upside of 23.77% from the stock’s previous close.

A number of other brokerages have also recently weighed in on UPS. BMO Capital Markets increased their target price on shares of United Parcel Service from $165.00 to $169.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Evercore ISI dropped their target price on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, June 24th. TD Cowen dropped their target price on shares of United Parcel Service from $147.00 to $140.00 and set a “hold” rating on the stock in a report on Thursday, March 28th. Morgan Stanley increased their target price on shares of United Parcel Service from $95.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, March 27th. Finally, Redburn Atlantic raised shares of United Parcel Service from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $164.45.

United Parcel Service Trading Down 12.1 %

UPS opened at $127.66 on Monday. The stock has a market capitalization of $109.22 billion, a PE ratio of 18.50, a P/E/G ratio of 1.86 and a beta of 0.98. The firm’s fifty day moving average price is $138.89 and its 200 day moving average price is $146.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.10 and a quick ratio of 1.04. United Parcel Service has a 12-month low of $124.97 and a 12-month high of $192.98.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.21). The company had revenue of $21.82 billion during the quarter, compared to analyst estimates of $22.17 billion. United Parcel Service had a net margin of 6.60% and a return on equity of 37.42%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.54 earnings per share. As a group, research analysts expect that United Parcel Service will post 8.15 EPS for the current fiscal year.

Hedge Funds Weigh In On United Parcel Service

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in United Parcel Service by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 67,218,714 shares of the transportation company’s stock valued at $10,568,798,000 after purchasing an additional 178,394 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of United Parcel Service by 87.6% in the fourth quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock worth $2,854,180,000 after acquiring an additional 8,475,698 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of United Parcel Service by 15,631.2% in the fourth quarter. International Assets Investment Management LLC now owns 14,502,261 shares of the transportation company’s stock worth $2,280,190,000 after acquiring an additional 14,410,073 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of United Parcel Service by 11.4% in the fourth quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock worth $1,510,517,000 after acquiring an additional 980,317 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of United Parcel Service in the fourth quarter worth $1,128,322,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

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.