Bank of America Reiterates “Neutral” Rating for United Parcel Service (NYSE:UPS)

United Parcel Service (NYSE:UPS)‘s stock had its “neutral” rating reiterated by Bank of America in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $98.00 price target on the transportation company’s stock. Bank of America‘s price objective indicates a potential upside of 12.39% from the stock’s current price.

A number of other research firms have also weighed in on UPS. Stephens dropped their target price on United Parcel Service from $110.00 to $101.00 in a report on Wednesday, April 30th. Loop Capital dropped their target price on United Parcel Service from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Barclays dropped their target price on United Parcel Service from $100.00 to $90.00 and set an “underweight” rating on the stock in a report on Monday, March 31st. Stifel Nicolaus dropped their target price on United Parcel Service from $145.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Redburn Atlantic dropped their target price on United Parcel Service from $137.00 to $117.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service has an average rating of “Hold” and a consensus price target of $113.38.

United Parcel Service Stock Down 4.0%

United Parcel Service stock opened at $87.20 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service has a 12-month low of $87.01 and a 12-month high of $145.01. The firm’s fifty day moving average is $99.75 and its 200 day moving average is $106.69. The company has a market capitalization of $73.84 billion, a PE ratio of 12.98, a PEG ratio of 1.75 and a beta of 1.21.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The firm had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. During the same period last year, the business posted $1.79 EPS. The company’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts predict 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 modified their holdings of the stock. Graybill Wealth Management LTD. purchased a new position in United Parcel Service during the 1st quarter valued at about $26,000. Mid American Wealth Advisory Group Inc. purchased a new position in United Parcel Service during the 2nd quarter valued at about $26,000. Pinney & Scofield Inc. purchased a new position in United Parcel Service during the 4th quarter valued at about $27,000. Citizens National Bank Trust Department increased its holdings in United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 210 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in United Parcel Service during the 4th quarter valued at about $28,000. 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.