United Parcel Service (NYSE:UPS) Price Target Lowered to $114.00 at Citigroup

Key Points

• Citigroup has lowered its price target for United Parcel Service (UPS) from $127.00 to $114.00 while maintaining a "buy" rating, indicating a potential upside of 32.24% from the current market price.
• Several other firms have also adjusted their ratings and target prices for UPS, with a consensus rating of "Hold" and a consensus target price of $112.81.
• UPS reported a Q2 EPS of $1.55, missing estimates by $0.01, while revenue of $21.20 billion was above expectations but down 2.7% year-over-year.

United Parcel Service (NYSE:UPS - Free Report) had its price objective lowered by Citigroup from $127.00 to $114.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the transportation company's stock.

Several other brokerages have also commented on UPS. 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. Bernstein Bank boosted their price target on shares of United Parcel Service from $132.00 to $133.00 in a research note on Wednesday, April 30th. DA Davidson decreased their price objective on shares of United Parcel Service from $154.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Wolfe Research decreased their price objective on shares of United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Finally, Evercore ISI reduced their price target on shares of United Parcel Service from $103.00 to $97.00 and set an "in-line" rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $112.81.

United Parcel Service Price Performance

UPS stock traded down $1.62 during mid-day trading on Thursday, reaching $84.54. The company's stock had a trading volume of 11,238,144 shares, compared to its average volume of 6,268,329. The stock has a market cap of $71.59 billion, a PE ratio of 12.58, a P/E/G ratio of 1.51 and a beta of 1.21. The company has a current ratio of 1.32, a quick ratio of 1.09 and a debt-to-equity ratio of 1.51. United Parcel Service has a fifty-two week low of $84.28 and a fifty-two week high of $145.01. The company's 50 day moving average is $99.53 and its two-hundred day moving average is $106.42.

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

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a yield of 7.8%. United Parcel Service's dividend payout ratio is 97.62%.

Institutional Investors Weigh In On United Parcel Service

Large investors have recently added to or reduced their stakes in the business. Gallacher Capital Management LLC acquired a new stake in shares of United Parcel Service during the first quarter valued at about $620,000. Garde Capital Inc. bought a new position in shares of United Parcel Service during the first quarter worth about $37,000. Golden State Wealth Management LLC raised its position in shares of United Parcel Service by 61.3% during the first quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company's stock worth $173,000 after acquiring an additional 599 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in United Parcel Service by 5.9% in the first quarter. CWA Asset Management Group LLC now owns 3,467 shares of the transportation company's stock worth $381,000 after purchasing an additional 193 shares in the last quarter. Finally, Advisor Resource Council acquired a new position in United Parcel Service in the first quarter valued at approximately $437,000. 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.