JPMorgan Chase & Co. Issues Positive Forecast for United Parcel Service (NYSE:UPS) Stock Price

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

Several other equities research analysts also recently weighed in on the company. Bank of America upgraded United Parcel Service from an “underperform” rating to a “neutral” rating and set a $114.00 price target on the stock in a report on Friday. Susquehanna increased their target price on United Parcel Service from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Truist Financial boosted their target price on shares of United Parcel Service from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Citigroup upped their price target on shares of United Parcel Service from $120.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $96.00 price objective (down previously from $125.00) on shares of United Parcel Service in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Parcel Service currently has a consensus rating of “Hold” and a consensus target price of $111.88.

United Parcel Service Trading Up 0.4%

Shares of NYSE UPS traded up $0.45 during trading hours on Monday, hitting $108.51. 2,027,753 shares of the company traded hands, compared to its average volume of 5,297,825. The company’s 50 day moving average price is $97.86 and its 200 day moving average price is $92.98. United Parcel Service has a 12 month low of $82.00 and a 12 month high of $136.99. The stock has a market capitalization of $92.05 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.35 and a beta of 1.11. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.50.

United Parcel Service (NYSE:UPS) last announced 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. The business had revenue of $21.42 billion for the quarter, compared to the consensus estimate of $20.94 billion. United Parcel Service had a net margin of 6.15% and a return on equity of 40.07%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. On average, equities research analysts anticipate that United Parcel Service will post 7.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Evelyn Partners Investment Management Europe Ltd increased its holdings in United Parcel Service by 110.1% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 250 shares of the transportation company’s stock valued at $25,000 after buying an additional 131 shares in the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in United Parcel Service in the 2nd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in United Parcel Service in the 2nd quarter worth about $34,000. RMG Wealth Management LLC acquired a new stake in United Parcel Service in the second quarter valued at approximately $34,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of United Parcel Service in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Company Profile

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.