JPMorgan Chase & Co. Cuts United Parcel Service (NYSE:UPS) Price Target to $120.00

United Parcel Service (NYSE:UPS) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $135.00 to $120.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.76% from the company’s previous close.

UPS has been the subject of a number of other reports. BMO Capital Markets raised United Parcel Service from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $155.00 to $150.00 in a research note on Tuesday, December 10th. Barclays reaffirmed an “underweight” rating and issued a $120.00 target price on shares of United Parcel Service in a research note on Monday, October 21st. Argus upgraded United Parcel Service from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group lowered their price target on United Parcel Service from $166.00 to $147.00 and set a “buy” rating for the company in a report on Friday. Finally, UBS Group increased their price target on United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.76.

United Parcel Service Price Performance

Shares of UPS stock traded down $0.35 during trading hours on Friday, hitting $114.55. 10,566,777 shares of the company’s stock were exchanged, compared to its average volume of 6,513,422. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. The firm has a market cap of $97.75 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.88 and a beta of 1.00. The firm has a 50 day moving average of $128.72 and a two-hundred day moving average of $130.61. United Parcel Service has a fifty-two week low of $109.62 and a fifty-two week high of $158.95.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.52 by $0.23. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. During the same period in the prior year, the company posted $2.47 earnings per share. Sell-side analysts forecast that United Parcel Service will post 7.5 EPS for the current year.

Insiders Place Their Bets

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $138.57, for a total value of $1,015,025.25. Following the completion of the transaction, the insider now directly owns 45,098 shares of the company’s stock, valued at $6,249,229.86. The trade was a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Parcel Service

Several institutional investors have recently added to or reduced their stakes in the business. Hudson Canyon Capital Management increased its stake in United Parcel Service by 11.0% in the fourth quarter. Hudson Canyon Capital Management now owns 13,650 shares of the transportation company’s stock valued at $1,721,000 after purchasing an additional 1,350 shares during the last quarter. Venturi Wealth Management LLC increased its stake in United Parcel Service by 34.3% in the fourth quarter. Venturi Wealth Management LLC now owns 13,952 shares of the transportation company’s stock valued at $1,759,000 after purchasing an additional 3,566 shares during the last quarter. D.A. Davidson & CO. grew its position in United Parcel Service by 5.4% during the fourth quarter. D.A. Davidson & CO. now owns 214,533 shares of the transportation company’s stock valued at $27,053,000 after acquiring an additional 11,054 shares during the period. Empower Advisory Group LLC grew its position in United Parcel Service by 2.1% during the fourth quarter. Empower Advisory Group LLC now owns 821,821 shares of the transportation company’s stock valued at $103,632,000 after acquiring an additional 16,850 shares during the period. Finally, CIBC Asset Management Inc grew its position in United Parcel Service by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 137,490 shares of the transportation company’s stock valued at $17,337,000 after acquiring an additional 576 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

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.