Wells Fargo & Company Has Lowered Expectations for United Parcel Service (NYSE:UPS) Stock Price

United Parcel Service (NYSE:UPS) had its price target lowered by equities researchers at Wells Fargo & Company from $128.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.43% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets upgraded United Parcel Service from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $155.00 to $150.00 in a research note on Tuesday, December 10th. Truist Financial began coverage on United Parcel Service in a research note on Thursday, March 13th. They set a “buy” rating and a $140.00 price target for the company. Wolfe Research upgraded shares of United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 price objective on the stock in a research note on Wednesday, January 8th. Loop Capital cut their target price on shares of United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of United Parcel Service in a research report on Friday, March 7th. They issued a “hold” rating and a $119.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.57.

United Parcel Service Price Performance

NYSE UPS opened at $109.66 on Thursday. United Parcel Service has a one year low of $109.40 and a one year high of $154.29. The stock has a 50-day moving average of $118.52 and a 200 day moving average of $126.44. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. The company has a market capitalization of $93.66 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same period last year, the firm earned $2.47 earnings per share. On average, sell-side analysts forecast that United Parcel Service will post 7.95 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in United Parcel Service during the fourth quarter valued at approximately $1,075,393,000. Raymond James Financial Inc. bought a new position in shares of United Parcel Service during the 4th quarter valued at approximately $393,680,000. Two Sigma Advisers LP grew its holdings in shares of United Parcel Service by 833.4% in the third quarter. Two Sigma Advisers LP now owns 2,074,100 shares of the transportation company’s stock valued at $282,783,000 after purchasing an additional 1,851,900 shares in the last quarter. Franklin Resources Inc. increased its position in United Parcel Service by 15.6% in the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company’s stock worth $1,384,567,000 after purchasing an additional 1,484,452 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in United Parcel Service by 77.7% during the fourth quarter. Van ECK Associates Corp now owns 3,150,901 shares of the transportation company’s stock valued at $397,329,000 after purchasing an additional 1,378,136 shares in the last quarter. 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.