Raymond James Has Lowered Expectations for United Parcel Service (NYSE:UPS) Stock Price

United Parcel Service (NYSE:UPS) had its price target reduced by stock analysts at Raymond James from $145.00 to $130.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the transportation company’s stock. Raymond James’ price objective indicates a potential upside of 39.51% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley cut their target price on United Parcel Service from $100.00 to $82.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Truist Financial assumed coverage on United Parcel Service in a research report on Thursday, March 13th. They issued a “buy” rating and a $140.00 price objective for the company. BMO Capital Markets raised United Parcel Service from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $155.00 to $150.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on United Parcel Service from $135.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Stifel Nicolaus cut their price target on shares of United Parcel Service from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

United Parcel Service Stock Down 2.5 %

NYSE UPS traded down $2.38 during trading on Tuesday, hitting $93.19. The stock had a trading volume of 4,742,949 shares, compared to its average volume of 4,737,665. United Parcel Service has a 12 month low of $92.73 and a 12 month high of $153.42. 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’s 50-day moving average price is $115.01 and its two-hundred day moving average price is $125.31. The company has a market capitalization of $79.60 billion, a PE ratio of 13.79, a P/E/G ratio of 1.55 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the company posted $2.47 earnings per share. As a group, sell-side analysts forecast that United Parcel Service will post 7.95 EPS for the current year.

Hedge Funds Weigh In On United Parcel Service

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of United Parcel Service during the 4th quarter worth approximately $1,075,393,000. Raymond James Financial Inc. purchased a new stake in shares of United Parcel Service in the fourth quarter valued at about $393,680,000. Franklin Resources Inc. grew its holdings in shares of 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 valued at $1,384,567,000 after purchasing an additional 1,484,452 shares during the period. 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 worth $397,329,000 after purchasing an additional 1,378,136 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in United Parcel Service by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company’s stock valued at $2,933,674,000 after purchasing an additional 1,337,058 shares during the last quarter. 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.