Wells Fargo & Company Cuts United Parcel Service (NYSE:UPS) Price Target to $120.00

United Parcel Service (NYSE:UPS) had its price objective lowered by Wells Fargo & Company from $128.00 to $120.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 9.43% from the stock’s current price.

Several other research analysts have also issued reports on UPS. Truist Financial began coverage on United Parcel Service in a research report on Thursday, March 13th. They set a “buy” rating and a $140.00 target price for the company. Raymond James dropped their price objective on United Parcel Service from $155.00 to $145.00 and set a “strong-buy” rating for the company in a report on Friday, January 31st. Baird R W lowered United Parcel Service from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on shares of United Parcel Service from $135.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, The Goldman Sachs Group reduced their price target on shares of United Parcel Service from $166.00 to $147.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, United Parcel Service presently has a consensus rating of “Moderate Buy” and an average target price of $137.57.

United Parcel Service Stock Performance

NYSE:UPS opened at $109.66 on Thursday. The firm has a market capitalization of $93.66 billion, a PE ratio of 16.22, a PEG ratio of 1.55 and a beta of 0.94. The stock’s fifty day moving average is $118.52 and its 200 day moving average is $126.44. United Parcel Service has a fifty-two week low of $109.40 and a fifty-two week high of $154.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same period in the prior year, the company earned $2.47 EPS. On average, sell-side analysts anticipate that United Parcel Service will post 7.95 earnings per share for the current year.

Institutional Trading of United Parcel Service

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of United Parcel Service by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock valued at $113,064,000 after acquiring an additional 33,989 shares during the period. Onyx Bridge Wealth Group LLC acquired a new stake in United Parcel Service in the fourth quarter valued at approximately $461,000. Synovus Financial Corp increased its position in shares of United Parcel Service by 8.6% in the third quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock valued at $11,934,000 after buying an additional 6,941 shares in the last quarter. HF Advisory Group LLC acquired a new position in shares of United Parcel Service during the 4th quarter worth approximately $1,305,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of United Parcel Service by 27.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock valued at $16,304,000 after buying an additional 28,108 shares in the last quarter. 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.