United Parcel Service (NYSE:UPS) Price Target Cut to $162.00

United Parcel Service (NYSE:UPS) had its target price reduced by The Goldman Sachs Group from $165.00 to $162.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 21.47% from the stock’s current price.

A number of other analysts have also recently commented on UPS. Bank of America dropped their target price on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Citigroup began coverage on shares of United Parcel Service in a research note on Wednesday. They issued a “buy” rating and a $162.00 price target on the stock. Susquehanna dropped their price target on shares of United Parcel Service from $160.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer dropped their price target on shares of United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Stephens dropped their price target on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.86.

United Parcel Service Stock Up 1.8 %

Shares of UPS stock traded up $2.41 during mid-day trading on Wednesday, reaching $133.37. 1,057,403 shares of the company’s stock traded hands, compared to its average volume of 4,219,811. United Parcel Service has a 12 month low of $123.12 and a 12 month high of $163.82. The company has a market cap of $114.24 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.93 and a beta of 0.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average price is $128.99 and its 200-day moving average price is $137.29.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business had revenue of $21.82 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter last year, the firm posted $2.54 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts expect that United Parcel Service will post 7.43 earnings per share for the current fiscal year.

Insider Activity

In other United Parcel Service news, Director William R. Johnson purchased 5,000 shares of United Parcel Service stock in a transaction dated Thursday, July 25th. The stock was purchased at an average price of $128.61 per share, with a total value of $643,050.00. Following the transaction, the director now directly owns 5,160 shares of the company’s stock, valued at $663,627.60. This trade represents a 3,100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On United Parcel Service

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Investment Group LTD. increased its holdings in United Parcel Service by 0.7% in the 1st quarter. Cullen Investment Group LTD. now owns 9,921 shares of the transportation company’s stock worth $1,480,000 after acquiring an additional 68 shares in the last quarter. Blackston Financial Advisory Group LLC boosted its stake in United Parcel Service by 1.4% in the 2nd quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock worth $694,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc boosted its stake in United Parcel Service by 2.2% in the 1st quarter. Versant Capital Management Inc now owns 3,212 shares of the transportation company’s stock worth $477,000 after purchasing an additional 70 shares during the period. Moody National Bank Trust Division boosted its stake in United Parcel Service by 0.8% in the 1st quarter. Moody National Bank Trust Division now owns 9,113 shares of the transportation company’s stock worth $1,354,000 after purchasing an additional 71 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its stake in United Parcel Service by 2.1% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 3,490 shares of the transportation company’s stock worth $519,000 after purchasing an additional 73 shares during the period. 60.26% of the stock is owned by hedge funds and other institutional investors.

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.