United Parcel Service (NYSE:UPS) Price Target Increased to $160.00 by Analysts at Bank of America

United Parcel Service (NYSE:UPS) had its price objective hoisted by Bank of America from $157.00 to $160.00 in a research report released on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the transportation company’s stock.

Several other research analysts have also weighed in on UPS. Robert W. Baird raised United Parcel Service from a neutral rating to an outperform rating and increased their target price for the stock from $165.00 to $170.00 in a research report on Friday, February 16th. TD Cowen cut their target price on United Parcel Service from $147.00 to $140.00 and set a hold rating on the stock in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft cut their target price on United Parcel Service from $183.00 to $179.00 and set a buy rating on the stock in a research report on Thursday, March 28th. Susquehanna raised their price objective on United Parcel Service from $150.00 to $160.00 and gave the company a neutral rating in a research report on Wednesday. Finally, Oppenheimer raised their price objective on United Parcel Service from $153.00 to $157.00 and gave the company an outperform rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $165.23.

United Parcel Service Price Performance

UPS stock opened at $147.53 on Wednesday. United Parcel Service has a 52-week low of $133.68 and a 52-week high of $192.98. The stock’s fifty day simple moving average is $149.56 and its 200-day simple moving average is $150.96. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $125.79 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.84 billion. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company posted $2.20 EPS. Equities research analysts expect that United Parcel Service will post 8.21 EPS for the current year.

United Parcel Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Tuesday, February 20th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend was Friday, February 16th. United Parcel Service’s payout ratio is presently 94.49%.

Insider Transactions at United Parcel Service

In other United Parcel Service news, Director Eva C. Boratto bought 1,400 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were acquired at an average cost of $142.30 per share, with a total value of $199,220.00. Following the completion of the transaction, the director now owns 1,400 shares in the company, valued at $199,220. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of United Parcel Service

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pavion Blue Capital LLC increased its holdings in United Parcel Service by 11.5% in the first quarter. Pavion Blue Capital LLC now owns 25,034 shares of the transportation company’s stock valued at $3,721,000 after buying an additional 2,575 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in United Parcel Service in the first quarter valued at about $131,000. Prestige Wealth Management Group LLC increased its holdings in United Parcel Service by 3.1% in the first quarter. Prestige Wealth Management Group LLC now owns 2,539 shares of the transportation company’s stock valued at $377,000 after buying an additional 77 shares during the last quarter. Northwest Bancshares Inc. increased its holdings in United Parcel Service by 8.2% in the first quarter. Northwest Bancshares Inc. now owns 38,357 shares of the transportation company’s stock valued at $5,701,000 after buying an additional 2,905 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in United Parcel Service by 6.3% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 20,201 shares of the transportation company’s stock valued at $3,002,000 after buying an additional 1,198 shares during the last quarter. 60.26% of the stock is owned by 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.