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

United Parcel Service (NYSE:UPS) had its price objective hoisted by Bank of America from $157.00 to $160.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 8.51% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Argus downgraded shares of United Parcel Service from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Evercore ISI reiterated an “in-line” rating and set a $154.00 price target on shares of United Parcel Service in a report on Wednesday, March 27th. HSBC lowered their price target on shares of United Parcel Service from $155.00 to $150.00 and set a “hold” rating for the company in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of United Parcel Service from $183.00 to $179.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, TD Cowen lowered their price target on shares of United Parcel Service from $147.00 to $140.00 and set a “hold” rating for the company in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $166.96.

United Parcel Service Stock Performance

NYSE:UPS opened at $147.45 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $149.57 and a two-hundred day moving average price of $151.01. United Parcel Service has a twelve month low of $133.68 and a twelve month high of $192.98. The company has a market capitalization of $125.72 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05.

United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.10. United Parcel Service had a net margin of 6.60% and a return on equity of 37.42%. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.84 billion. During the same period last year, the firm posted $2.20 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, research analysts expect that United Parcel Service will post 8.2 earnings per share for the current fiscal year.

Insider Buying and Selling at United Parcel Service

In other United Parcel Service news, Director Eva C. Boratto purchased 1,400 shares of United Parcel Service stock in a transaction on Friday, February 2nd. The shares were purchased at an average cost of $142.30 per share, with a total value of $199,220.00. Following the completion of the transaction, the director now directly owns 1,400 shares in the company, valued at approximately $199,220. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of United Parcel Service

A number of hedge funds have recently made changes to their positions in UPS. GHP Investment Advisors Inc. raised its stake in shares of United Parcel Service by 2.3% during the third quarter. GHP Investment Advisors Inc. now owns 16,673 shares of the transportation company’s stock valued at $2,586,000 after purchasing an additional 371 shares during the period. Meridian Wealth Management LLC raised its stake in shares of United Parcel Service by 2.6% during the third quarter. Meridian Wealth Management LLC now owns 6,058 shares of the transportation company’s stock valued at $944,000 after purchasing an additional 153 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of United Parcel Service by 0.7% during the third quarter. Exchange Traded Concepts LLC now owns 42,132 shares of the transportation company’s stock valued at $6,567,000 after purchasing an additional 274 shares during the period. Strategic Blueprint LLC raised its stake in shares of United Parcel Service by 23.4% during the third quarter. Strategic Blueprint LLC now owns 7,789 shares of the transportation company’s stock valued at $1,214,000 after purchasing an additional 1,476 shares during the period. Finally, ARK Investment Management LLC raised its stake in shares of United Parcel Service by 7.3% during the third quarter. ARK Investment Management LLC now owns 11,954 shares of the transportation company’s stock valued at $1,863,000 after purchasing an additional 817 shares during the period. Hedge funds and other institutional investors 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.