Truist Financial Has Lowered Expectations for United Parcel Service (NYSE:UPS) Stock Price

United Parcel Service (NYSE:UPS) had its price target dropped by analysts at Truist Financial from $130.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Truist Financial’s price target indicates a potential upside of 39.20% from the stock’s current price.

Several other brokerages have also weighed in on UPS. Galvan Research lowered their price objective on United Parcel Service from $126.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, June 30th. JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $110.00 to $107.00 and set a “neutral” rating for the company in a research report on Tuesday, July 8th. Susquehanna lowered their price objective on United Parcel Service from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday. Wolfe Research lowered their price objective on United Parcel Service from $113.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, July 1st. Finally, Stephens lowered their price target on United Parcel Service from $110.00 to $101.00 in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.81.

United Parcel Service Trading Down 1.1%

Shares of United Parcel Service stock opened at $86.21 on Wednesday. The firm has a market capitalization of $73.00 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.51 and a beta of 1.21. United Parcel Service has a fifty-two week low of $85.76 and a fifty-two week high of $145.01. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.09 and a current ratio of 1.32. The stock has a 50 day moving average of $99.53 and a 200 day moving average of $106.42.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). The business had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.79 earnings per share. As a group, research analysts predict that United Parcel Service will post 7.95 earnings per share for the current year.

Institutional Trading of United Parcel Service

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cornerstone Wealth Group LLC raised its stake in United Parcel Service by 3.9% in the second quarter. Cornerstone Wealth Group LLC now owns 2,557 shares of the transportation company’s stock valued at $258,000 after buying an additional 97 shares in the last quarter. Colonial Trust Co SC increased its position in shares of United Parcel Service by 1.4% during the fourth quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company’s stock worth $911,000 after purchasing an additional 98 shares in the last quarter. Juncture Wealth Strategies LLC increased its position in shares of United Parcel Service by 2.5% during the first quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company’s stock worth $454,000 after purchasing an additional 101 shares in the last quarter. Bangor Savings Bank increased its position in shares of United Parcel Service by 1.9% during the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company’s stock worth $546,000 after purchasing an additional 101 shares in the last quarter. Finally, First Dallas Securities Inc. increased its position in shares of United Parcel Service by 0.9% during the first quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company’s stock worth $1,256,000 after purchasing an additional 102 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

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.