United Parcel Service (NYSE:UPS) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued on Wednesday, The Fly reports.
Other analysts have also recently issued research reports about the company. UBS Group reissued a “buy” rating on shares of United Parcel Service in a report on Tuesday, August 17th. JPMorgan Chase & Co. set a $192.23 target price on United Parcel Service in a research note on Tuesday, July 27th. Evercore ISI started coverage on United Parcel Service in a research note on Tuesday, September 28th. They issued an “outperform” rating and a $225.00 target price on the stock. Zacks Investment Research lowered United Parcel Service from a “buy” rating to a “hold” rating and set a $217.00 target price on the stock. in a research note on Tuesday, June 29th. Finally, Credit Suisse Group decreased their target price on United Parcel Service from $261.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $207.58.
UPS traded up $2.07 during trading on Wednesday, reaching $184.06. 3,732,795 shares of the company were exchanged, compared to its average volume of 3,285,333. The company’s 50-day moving average is $190.38 and its two-hundred day moving average is $197.11. The company has a market cap of $160.32 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 1.49 and a beta of 1.06. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.94. United Parcel Service has a 12-month low of $154.76 and a 12-month high of $219.59.
United Parcel Service announced that its Board of Directors has initiated a stock buyback program on Thursday, August 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Several hedge funds have recently modified their holdings of the company. E Fund Management Co. Ltd. bought a new stake in United Parcel Service during the first quarter worth approximately $215,000. Quilter Plc grew its stake in shares of United Parcel Service by 41.1% during the first quarter. Quilter Plc now owns 25,703 shares of the transportation company’s stock valued at $4,370,000 after buying an additional 7,486 shares during the last quarter. Advisors Capital Management LLC grew its stake in shares of United Parcel Service by 48.1% during the first quarter. Advisors Capital Management LLC now owns 1,917 shares of the transportation company’s stock valued at $325,000 after buying an additional 623 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of United Parcel Service by 8.1% during the first quarter. Cresset Asset Management LLC now owns 12,408 shares of the transportation company’s stock valued at $2,109,000 after buying an additional 925 shares during the last quarter. Finally, Harbour Investments Inc. bought a new position in shares of United Parcel Service during the first quarter valued at approximately $251,000. 56.98% of the stock is currently owned by hedge funds and other institutional investors.
About United Parcel Service
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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