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

Key Points

• Truist Financial has reduced its price target for United Parcel Service (UPS) from $130.00 to $120.00, maintaining a "buy" rating on the stock, which suggests a potential upside of 34.44%.
• United Parcel Service's stock is currently trading around $89.26, down 1.7%, with a market cap of $75.58 billion and a price-to-earnings (P/E) ratio of 12.96.
• Analysts have varied ratings on UPS, with two sell ratings, seventeen holds, eleven buys, and one strong buy, leading to a consensus rating of "Hold" with an average price target of $113.38.

United Parcel Service (NYSE:UPS - Get Free Report) had its target price reduced by investment analysts at Truist Financial from $130.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the transportation company's stock. Truist Financial's price objective suggests a potential upside of 39.72% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer decreased their price objective on shares of United Parcel Service from $114.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday. BMO Capital Markets cut their price target on shares of United Parcel Service from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group cut their price target on shares of United Parcel Service from $150.00 to $130.00 in a research note on Wednesday, April 30th. Loop Capital cut their price target on shares of United Parcel Service from $115.00 to $105.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Finally, Bank of America reiterated a "neutral" rating and set a $98.00 price target on shares of United Parcel Service in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $112.81.

United Parcel Service Stock Down 0.3%

UPS stock traded down $0.28 during midday trading on Wednesday, hitting $85.88. The company's stock had a trading volume of 2,810,165 shares, compared to its average volume of 6,208,073. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service has a 52-week low of $85.36 and a 52-week high of $145.01. The firm has a market capitalization of $72.73 billion, a P/E ratio of 12.79, a PEG ratio of 1.51 and a beta of 1.21. The firm has a 50-day simple moving average of $99.53 and a 200-day simple moving average of $106.42.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.01). The firm had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%. United Parcel Service's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.79 earnings per share. As a group, equities analysts forecast that United Parcel Service will post 7.95 EPS for the current year.

Hedge Funds Weigh In On United Parcel Service

Institutional investors and hedge funds have recently modified their holdings of the company. Brighton Jones LLC increased its position in United Parcel Service by 63.8% during the fourth quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock worth $1,529,000 after purchasing an additional 4,723 shares during the last quarter. Schroder Investment Management Group increased its position in United Parcel Service by 6.9% during the fourth quarter. Schroder Investment Management Group now owns 190,286 shares of the transportation company's stock worth $23,847,000 after purchasing an additional 12,286 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in United Parcel Service by 1.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 41,386 shares of the transportation company's stock worth $5,219,000 after purchasing an additional 641 shares during the last quarter. StoneX Group Inc. increased its position in United Parcel Service by 33.7% during the fourth quarter. StoneX Group Inc. now owns 17,722 shares of the transportation company's stock worth $2,235,000 after purchasing an additional 4,462 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in United Parcel Service during the fourth quarter worth approximately $248,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

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.