United Parcel Service (NYSE:UPS) Price Target Raised to $99.00 at JPMorgan Chase & Co.

United Parcel Service (NYSE:UPS) had its price objective raised by JPMorgan Chase & Co. from $97.00 to $99.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 8.76% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Bank of America raised shares of United Parcel Service from an “underperform” rating to a “neutral” rating and set a $114.00 price target on the stock in a research note on Friday. Wells Fargo & Company raised their target price on shares of United Parcel Service from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Citigroup boosted their target price on United Parcel Service from $120.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on United Parcel Service from $100.00 to $88.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. Finally, Stephens upgraded United Parcel Service to a “hold” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $111.88.

United Parcel Service Price Performance

UPS stock traded up $0.45 during trading on Monday, hitting $108.51. The stock had a trading volume of 2,027,753 shares, compared to its average volume of 5,297,825. United Parcel Service has a twelve month low of $82.00 and a twelve month high of $136.99. The company’s 50-day moving average price is $97.86 and its two-hundred day moving average price is $92.98. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $92.05 billion, a P/E ratio of 16.77, a PEG ratio of 2.35 and a beta of 1.11.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, October 28th. The transportation company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.43. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The business had revenue of $21.42 billion for the quarter, compared to the consensus estimate of $20.94 billion. During the same quarter last year, the business posted $1.76 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, research analysts predict that United Parcel Service will post 7.95 EPS for the current fiscal year.

Institutional Investors Weigh In On United Parcel Service

A number of institutional investors have recently modified their holdings of the company. Evelyn Partners Investment Management Europe Ltd increased its stake in United Parcel Service by 110.1% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 250 shares of the transportation company’s stock worth $25,000 after purchasing an additional 131 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new stake in United Parcel Service during the 2nd quarter worth approximately $26,000. Salzhauer Michael purchased a new stake in United Parcel Service during the 3rd quarter worth approximately $31,000. Physician Wealth Advisors Inc. lifted its holdings in United Parcel Service by 76.5% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 376 shares of the transportation company’s stock worth $31,000 after buying an additional 163 shares in the last quarter. Finally, RMG Wealth Management LLC purchased a new position in United Parcel Service in the 2nd quarter valued at approximately $34,000. 60.26% of the stock is owned by institutional investors and hedge funds.

About United Parcel Service

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.