United Parcel Service, Inc. (UPS) Upgraded to Buy at Zacks Investment Research
United Parcel Service, Inc. (NYSE:UPS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $133.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.52% from the company’s previous close.
According to Zacks, “United Parcel Service's shares have outperformed its industry as well as rival FedEx over the last three months. While the stock has gained 7.1%, the industry has advanced 5.3%. Shares of FedEx have gained only 1.5% in the period. In fact, UPS is leaving no stone unturned to perform well in the upcoming holiday season. It expects to benefit from the growth in ecommerce. Meanwhile, growth in export shipments continues to boost UPS. Additionally, the company’s efforts to reward its shareholders seem to be encouraging. Earlier this year, it hiked quarterly dividend by 6.4%. Furthermore, UPS' expansion efforts raise investors’ optimism. However, adverse foreign currency movements and high costs might hurt results in the third quarter of 2017. Results are scheduled to be revealed on Oct 26.”
Other research analysts also recently issued research reports about the company. TheStreet upgraded United Parcel Service from a “c” rating to a “b” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $123.00 price target (up previously from $116.00) on shares of United Parcel Service in a report on Wednesday, September 20th. Citigroup Inc. upgraded United Parcel Service from a “neutral” rating to a “buy” rating and lifted their price target for the company from $115.00 to $128.00 in a report on Tuesday, August 8th. BidaskClub upgraded United Parcel Service from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Cowen and Company reiterated a “hold” rating on shares of United Parcel Service in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $116.38.
Shares of United Parcel Service (NYSE UPS) opened at 118.20 on Friday. The firm has a 50-day moving average price of $116.32 and a 200-day moving average price of $110.25. United Parcel Service has a 52 week low of $102.12 and a 52 week high of $120.80. The firm has a market capitalization of $102.36 billion, a price-to-earnings ratio of 29.06 and a beta of 0.90. United Parcel Service also saw unusually large options trading on Wednesday. Investors purchased 8,546 put options on the company. This is an increase of 417% compared to the average volume of 1,652 put options.
United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. United Parcel Service had a return on equity of 417.18% and a net margin of 5.68%. The business had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.49 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. United Parcel Service’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts expect that United Parcel Service will post $6.01 earnings per share for the current fiscal year.
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In other United Parcel Service news, EVP Alan Gershenhorn sold 17,699 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $114.10, for a total value of $2,019,455.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James J. Barber sold 3,556 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $110.85, for a total value of $394,182.60. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of United Parcel Service by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 48,402,968 shares of the transportation company’s stock worth $5,352,884,000 after acquiring an additional 1,262,293 shares in the last quarter. BlackRock Inc. boosted its stake in shares of United Parcel Service by 2,550.9% during the 1st quarter. BlackRock Inc. now owns 45,051,373 shares of the transportation company’s stock worth $4,834,013,000 after acquiring an additional 43,351,873 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of United Parcel Service by 4.0% during the 1st quarter. Wellington Management Group LLP now owns 29,387,614 shares of the transportation company’s stock worth $3,153,291,000 after acquiring an additional 1,117,802 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of United Parcel Service by 5.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 24,295,470 shares of the transportation company’s stock worth $2,606,905,000 after acquiring an additional 1,246,981 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of United Parcel Service by 0.5% during the 2nd quarter. FMR LLC now owns 14,357,475 shares of the transportation company’s stock worth $1,587,793,000 after acquiring an additional 71,666 shares in the last quarter. Hedge funds and other institutional investors own 52.86% of the company’s stock.
United Parcel Service Company Profile
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
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