Argus Upgrades United Parcel Service (NYSE:UPS) to “Buy”

Argus upgraded shares of United Parcel Service (NYSE:UPS) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group decreased their target price on United Parcel Service from $165.00 to $162.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Stephens reduced their price objective on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their target price on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. BMO Capital Markets reduced their price target on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Finally, Robert W. Baird dropped their price objective on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $151.71.

United Parcel Service Stock Performance

UPS stock opened at $134.17 on Tuesday. The stock’s 50 day simple moving average is $131.83 and its 200 day simple moving average is $135.39. United Parcel Service has a 12-month low of $123.12 and a 12-month high of $163.82. The firm has a market cap of $114.93 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.20 and a beta of 0.99. The company has a current ratio of 1.14, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20.

United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping 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 company had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $22.10 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that United Parcel Service will post 7.48 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.86%. United Parcel Service’s dividend payout ratio is currently 98.49%.

Institutional Investors Weigh In On United Parcel Service

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC boosted its position in shares of United Parcel Service by 39.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 9,746 shares of the transportation company’s stock valued at $1,329,000 after purchasing an additional 2,782 shares in the last quarter. Prospera Financial Services Inc lifted its stake in United Parcel Service by 1.8% during the third quarter. Prospera Financial Services Inc now owns 56,641 shares of the transportation company’s stock valued at $7,723,000 after purchasing an additional 1,007 shares during the last quarter. Verity & Verity LLC boosted its holdings in United Parcel Service by 3.2% during the third quarter. Verity & Verity LLC now owns 129,551 shares of the transportation company’s stock worth $17,663,000 after buying an additional 4,054 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in United Parcel Service in the third quarter worth approximately $309,000. Finally, Aviance Capital Partners LLC increased its holdings in shares of United Parcel Service by 2.7% in the third quarter. Aviance Capital Partners LLC now owns 6,620 shares of the transportation company’s stock valued at $903,000 after buying an additional 175 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Company Profile

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.