Short Interest in United Parcel Service, Inc. (NYSE:UPS) Declines By 12.3%
United Parcel Service, Inc. (NYSE:UPS) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 12,590,000 shares, a decline of 12.3% from the August 30th total of 14,350,000 shares. Based on an average daily trading volume, of 3,360,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 1.8% of the company’s stock are sold short.
Institutional investors and hedge funds have recently modified their holdings of the business. Capital Advisors Ltd. LLC lifted its holdings in shares of United Parcel Service by 65.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 297 shares of the transportation company’s stock valued at $31,000 after buying an additional 117 shares during the period. First National Corp MA ADV acquired a new position in shares of United Parcel Service in the 1st quarter valued at about $38,000. Kavar Capital Partners LLC acquired a new position in shares of United Parcel Service in the 2nd quarter valued at about $38,000. NumerixS Investment Technologies Inc acquired a new position in shares of United Parcel Service in the 2nd quarter valued at about $38,000. Finally, Earnest Partners LLC acquired a new position in shares of United Parcel Service in the 2nd quarter valued at about $40,000. 55.29% of the stock is owned by institutional investors.
UPS traded up $0.61 on Tuesday, reaching $116.48. 2,527,146 shares of the stock were exchanged, compared to its average volume of 3,230,011. The company’s 50-day moving average price is $118.56 and its 200 day moving average price is $109.70. United Parcel Service has a fifty-two week low of $89.89 and a fifty-two week high of $123.63. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $99.63 billion, a PE ratio of 16.09, a PEG ratio of 1.76 and a beta of 1.24.
Several brokerages recently weighed in on UPS. Stifel Nicolaus downgraded United Parcel Service from a “buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a research note on Monday, July 29th. JPMorgan Chase & Co. set a $135.00 target price on United Parcel Service and gave the stock a “neutral” rating in a research note on Friday, October 4th. UBS Group boosted their target price on United Parcel Service to $128.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Berenberg Bank restated a “buy” rating on shares of United Parcel Service in a research note on Friday, July 26th. Finally, Loop Capital set a $140.00 target price on United Parcel Service and gave the stock a “buy” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $120.46.
About United Parcel Service
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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