United Parcel Service (NYSE:UPS) Price Target Cut to $129.00 by Analysts at Bank of America

United Parcel Service (NYSE:UPS) had its price objective reduced by Bank of America from $133.00 to $129.00 in a report issued on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their price target on shares of United Parcel Service from $150.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their target price 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. Robert W. Baird downgraded United Parcel Service from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $130.00 in a research note on Friday, January 31st. Loop Capital lowered their price objective on United Parcel Service from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Finally, Morgan Stanley reduced their target price on shares of United Parcel Service from $100.00 to $82.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, United Parcel Service currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.91.

United Parcel Service Stock Performance

UPS opened at $110.01 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. United Parcel Service has a 12-month low of $109.40 and a 12-month high of $157.99. The business has a 50 day moving average of $119.63 and a 200-day moving average of $126.79. The stock has a market cap of $93.97 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS) last announced its quarterly 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 return on equity of 39.13% and a net margin of 6.35%. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, equities research analysts expect that United Parcel Service will post 7.95 earnings per share for the current year.

United Parcel Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.64 per share. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date was Tuesday, February 18th. This represents a $6.56 annualized dividend and a yield of 5.96%. United Parcel Service’s payout ratio is presently 97.04%.

Institutional Investors Weigh In On United Parcel Service

A number of hedge funds have recently made changes to their positions in UPS. IMG Wealth Management Inc. bought a new position in United Parcel Service in the 4th quarter valued at approximately $25,000. Generali Investments Management Co LLC acquired a new position in shares of United Parcel Service during the fourth quarter worth $26,000. Pinney & Scofield Inc. bought a new position in shares of United Parcel Service in the 4th quarter valued at $27,000. True Wealth Design LLC boosted its holdings in shares of United Parcel Service by 397.7% during the 3rd quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 171 shares in the last quarter. Finally, IFS Advisors LLC grew its position in United Parcel Service by 232.3% during the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after acquiring an additional 151 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.