Citigroup Issues Pessimistic Forecast for United Parcel Service (NYSE:UPS) Stock Price

by · The Cerbat Gem

United Parcel Service (NYSE:UPS – Get Free Report) had its price target reduced by equities research analysts at Citigroup from $163.00 to $158.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective would indicate a potential upside of 21.32% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Stephens lowered their price target on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird dropped their price objective on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Oppenheimer raised their target price on United Parcel Service from $140.00 to $146.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Argus raised United Parcel Service from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Baird R W upgraded shares of United Parcel Service to a “strong-buy” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.52.

Read Our Latest Research Report on UPS

United Parcel Service Trading Down 1.0 %

UPS stock traded down $1.38 during trading on Tuesday, hitting $130.23. The company had a trading volume of 1,522,300 shares, compared to its average volume of 4,165,441. The company has a 50 day simple moving average of $132.12 and a 200-day simple moving average of $135.01. The firm has a market capitalization of $111.55 billion, a P/E ratio of 19.67, a PEG ratio of 2.17 and a beta of 0.99. The company has a quick ratio of 1.25, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. United Parcel Service has a 52-week low of $123.12 and a 52-week high of $163.82.

United Parcel Service (NYSE:UPS – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. During the same period last year, the firm posted $1.57 EPS. United Parcel Service’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that United Parcel Service will post 7.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Kingsview Wealth Management LLC boosted its stake in shares of United Parcel Service by 97.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 39,981 shares of the transportation company’s stock valued at $5,451,000 after purchasing an additional 19,772 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in United Parcel Service in the 3rd quarter valued at about $1,316,000. Nwam LLC purchased a new stake in United Parcel Service in the 3rd quarter worth approximately $22,915,000. Icon Wealth Advisors LLC grew its holdings in United Parcel Service by 356.6% in the 3rd quarter. Icon Wealth Advisors LLC now owns 37,100 shares of the transportation company’s stock worth $5,058,000 after acquiring an additional 28,975 shares during the last quarter. Finally, Studio Investment Management LLC raised its holdings in United Parcel Service by 9.9% in the third quarter. Studio Investment Management LLC now owns 5,480 shares of the transportation company’s stock worth $747,000 after buying an additional 492 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.

About United Parcel Service

(Get Free Report)

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.

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