United Parcel Service (NYSE:UPS) Shares Gap Down to $118.52

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United Parcel Service, Inc. (NYSE:UPS) shares gapped down prior to trading on Tuesday . The stock had previously closed at $121.21, but opened at $118.52. United Parcel Service shares last traded at $116.10, with a volume of 8,121,318 shares trading hands.

Several brokerages have recently commented on UPS. Raymond James raised their target price on United Parcel Service from $130.00 to $135.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. set a $135.00 target price on United Parcel Service and gave the company a “neutral” rating in a research note on Friday, October 4th. Loop Capital set a $140.00 target price on United Parcel Service and gave the company a “buy” rating in a research note on Monday, September 23rd. Goldman Sachs Group began coverage on United Parcel Service in a research note on Wednesday, July 10th. They issued a “buy” rating and a $123.00 target price for the company. Finally, Deutsche Bank restated a “hold” rating on shares of United Parcel Service in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $120.46.

The firm has a market cap of $100.77 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.78 and a beta of 1.24. The company has a debt-to-equity ratio of 4.62, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50 day simple moving average of $118.60 and a 200-day simple moving average of $109.87.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.02. The business had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $18.35 billion. United Parcel Service had a return on equity of 175.60% and a net margin of 6.56%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. As a group, research analysts anticipate that United Parcel Service, Inc. will post 7.51 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Centric Wealth Management lifted its position in shares of United Parcel Service by 27.3% during the 3rd quarter. Centric Wealth Management now owns 422,008 shares of the transportation company’s stock worth $48,632,000 after buying an additional 90,572 shares in the last quarter. Cypress Capital Management LLC bought a new position in shares of United Parcel Service during the 2nd quarter worth approximately $7,798,000. Nomura Asset Management Co. Ltd. lifted its position in shares of United Parcel Service by 7.1% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 207,803 shares of the transportation company’s stock worth $21,459,000 after buying an additional 13,743 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of United Parcel Service by 9.8% during the 2nd quarter. Bank of Nova Scotia now owns 148,153 shares of the transportation company’s stock worth $14,653,000 after buying an additional 13,206 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of United Parcel Service by 15.8% during the 2nd quarter. Fisher Asset Management LLC now owns 49,269 shares of the transportation company’s stock worth $5,088,000 after buying an additional 6,715 shares in the last quarter. Institutional investors and hedge funds own 55.31% of the company’s stock.

About United Parcel Service (NYSE:UPS)

United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.

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