JPMorgan Chase & Co. Lowers United Parcel Service (NYSE:UPS) Price Target to $107.00

United Parcel Service (NYSE:UPS) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $110.00 to $107.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.11% from the stock’s previous close.

UPS has been the subject of a number of other reports. BNP Paribas Exane upgraded United Parcel Service from an “underperform” rating to a “neutral” rating and set a $100.00 price objective for the company in a research report on Thursday, July 3rd. Wells Fargo & Company restated an “equal weight” rating and issued a $98.00 target price (down from $120.00) on shares of United Parcel Service in a report on Tuesday, April 22nd. UBS Group decreased their target price on United Parcel Service from $128.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, July 2nd. Wall Street Zen downgraded United Parcel Service from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Barclays dropped their price target on United Parcel Service from $100.00 to $90.00 and set an “underweight” rating on the stock in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $118.96.

United Parcel Service Trading Up 1.9%

UPS traded up $1.93 during trading on Tuesday, reaching $102.78. The company had a trading volume of 1,502,290 shares, compared to its average volume of 5,213,798. The stock has a market cap of $87.03 billion, a P/E ratio of 14.98, a PEG ratio of 2.01 and a beta of 1.21. The business has a 50 day simple moving average of $98.91 and a 200-day simple moving average of $109.48. United Parcel Service has a 52 week low of $90.55 and a 52 week high of $148.15. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.38 by $0.11. The firm had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 earnings per share. On average, equities analysts anticipate that United Parcel Service will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On United Parcel Service

A number of institutional investors have recently modified their holdings of UPS. IMG Wealth Management Inc. purchased a new stake in shares of United Parcel Service in the 4th quarter worth about $25,000. Generali Investments Management Co LLC acquired a new position in United Parcel Service in the fourth quarter worth $26,000. Pinney & Scofield Inc. bought a new stake in shares of United Parcel Service during the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new position in United Parcel Service during the fourth quarter worth about $28,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in United Parcel Service in the 4th quarter worth about $30,000. 60.26% of the stock is 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.