United Parcel Service (NYSE:UPS) Price Target Raised to $150.00

United Parcel Service (NYSE:UPS) had its price objective boosted by Bank of America from $132.00 to $150.00 in a report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also weighed in on UPS. UBS Group reduced their price objective on United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI boosted their price target on United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a report on Tuesday. Citigroup assumed coverage on shares of United Parcel Service in a report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 price objective for the company. Baird R W upgraded shares of United Parcel Service to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.43.

United Parcel Service Price Performance

UPS stock traded down $0.92 during mid-day trading on Friday, hitting $137.43. The stock had a trading volume of 4,916,651 shares, compared to its average volume of 4,221,229. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $117.72 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.93 and a beta of 0.99. The firm has a fifty day simple moving average of $130.89 and a 200 day simple moving average of $136.08. United Parcel Service has a 52 week low of $123.12 and a 52 week high of $163.82.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.11. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.10 billion. During the same period in the prior year, the company earned $1.57 EPS. United Parcel Service’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts forecast that United Parcel Service will post 7.44 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.74%. United Parcel Service’s payout ratio is currently 106.36%.

Hedge Funds Weigh In On United Parcel Service

A number of hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in United Parcel Service by 15,779.6% during the 3rd quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock valued at $1,994,853,000 after purchasing an additional 14,539,321 shares during the last quarter. Clearbridge Investments LLC lifted its stake in United Parcel Service by 6.5% in the first quarter. Clearbridge Investments LLC now owns 6,671,306 shares of the transportation company’s stock worth $991,556,000 after acquiring an additional 406,248 shares during the period. Bank of New York Mellon Corp raised its holdings in United Parcel Service by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,490,712 shares of the transportation company’s stock worth $888,254,000 after purchasing an additional 20,426 shares in the last quarter. American Century Companies Inc. lifted its position in shares of United Parcel Service by 10.5% in the 2nd quarter. American Century Companies Inc. now owns 4,144,372 shares of the transportation company’s stock worth $567,157,000 after purchasing an additional 393,434 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of United Parcel Service by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,113,870 shares of the transportation company’s stock valued at $611,445,000 after purchasing an additional 101,349 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

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.