Bank of America Raises United Parcel Service (NYSE:UPS) Price Target to $160.00

United Parcel Service (NYSE:UPS) had its price target raised by equities researchers at Bank of America from $157.00 to $160.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 9.77% from the stock’s previous close.

A number of other brokerages have also weighed in on UPS. TheStreet upgraded shares of United Parcel Service from a “c” rating to a “b-” rating in a report on Tuesday, January 30th. Oppenheimer increased their price objective on United Parcel Service from $153.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday. Evercore ISI reaffirmed an “in-line” rating and set a $154.00 target price on shares of United Parcel Service in a research report on Wednesday, March 27th. Daiwa Capital Markets downgraded United Parcel Service from an “outperform” rating to a “neutral” rating and set a $155.00 price target on the stock. in a research report on Tuesday, December 26th. Finally, Susquehanna raised their price target on United Parcel Service from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $166.09.

United Parcel Service Trading Down 2.1 %

UPS stock traded down $3.11 during mid-day trading on Wednesday, reaching $145.76. 2,520,801 shares of the stock traded hands, compared to its average volume of 4,325,160. United Parcel Service has a one year low of $133.68 and a one year high of $192.98. The stock has a market capitalization of $124.28 billion, a PE ratio of 18.71, a PEG ratio of 1.69 and a beta of 1.05. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.10 and a current ratio of 1.10. The business has a 50-day moving average price of $149.52 and a two-hundred day moving average price of $151.06.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.10. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.84 billion. United Parcel Service had a net margin of 7.37% and a return on equity of 39.46%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. Equities research analysts expect that United Parcel Service will post 8.2 EPS for the current year.

Insider Activity

In other news, Director Eva C. Boratto bought 1,400 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was purchased at an average price of $142.30 per share, with a total value of $199,220.00. Following the completion of the acquisition, the director now directly owns 1,400 shares of the company’s stock, valued at approximately $199,220. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of United Parcel Service

Institutional investors and hedge funds have recently bought and sold shares of the business. Tennessee Valley Asset Management Partners purchased a new position in United Parcel Service during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new position in shares of United Parcel Service during the 3rd quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new position in shares of United Parcel Service in the 4th quarter valued at $28,000. Northwest Financial Advisors purchased a new stake in United Parcel Service during the fourth quarter worth $28,000. Finally, Pineridge Advisors LLC acquired a new stake in United Parcel Service during the fourth quarter valued at $31,000. 60.26% of the stock is currently 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.