Wells Fargo & Company Lowers United Parcel Service (NYSE:UPS) Price Target to $91.00

Key Points

• Wells Fargo & Company has lowered its price target for United Parcel Service (UPS) from $98.00 to $91.00, maintaining an "equal weight" rating on the stock.
• Current average analyst ratings for UPS indicate a consensus of "Hold" with a price target of $114.09, as various firms have adjusted their forecasts downwards recently.
• UPS shares showed a decline of $1.56 to $89.28 during midday trading, reflecting the company's struggles with a recent earnings report and overall market performance.

United Parcel Service (NYSE:UPS - Free Report) had its price target decreased by Wells Fargo & Company from $98.00 to $91.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the transportation company's stock.

UPS has been the topic of several other research reports. Bank of America reissued a "neutral" rating and issued a $98.00 price target on shares of United Parcel Service in a report on Tuesday. Vertical Research reissued a "hold" rating and issued a $103.00 price target on shares of United Parcel Service in a report on Wednesday. Hsbc Global Res downgraded United Parcel Service from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Raymond James Financial cut their target price on United Parcel Service from $145.00 to $130.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Daiwa America cut their target price on United Parcel Service from $120.00 to $103.00 in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $112.81.

United Parcel Service Stock Up 0.3%

Shares of UPS stock traded up $0.26 during trading hours on Wednesday, reaching $86.42. The company had a trading volume of 2,504,232 shares, compared to its average volume of 6,205,425. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.09 and a current ratio of 1.32. United Parcel Service has a twelve month low of $85.36 and a twelve month high of $145.01. The company has a market capitalization of $73.18 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.51 and a beta of 1.21. The stock's fifty day simple moving average is $99.53 and its 200 day simple moving average is $106.42.

United Parcel Service (NYSE:UPS - Get Free Report) last issued 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). The business had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. United Parcel Service's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 EPS. As a group, sell-side analysts expect that United Parcel Service will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date was Monday, May 19th. United Parcel Service's dividend payout ratio is 97.62%.

Hedge Funds Weigh In On United Parcel Service

Hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Group LLC lifted its position in United Parcel Service by 3.9% during the second quarter. Cornerstone Wealth Group LLC now owns 2,557 shares of the transportation company's stock worth $258,000 after acquiring an additional 97 shares during the last quarter. Colonial Trust Co SC raised its position in United Parcel Service by 1.4% during the fourth quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company's stock valued at $911,000 after purchasing an additional 98 shares in the last quarter. Juncture Wealth Strategies LLC raised its position in United Parcel Service by 2.5% during the first quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company's stock valued at $454,000 after purchasing an additional 101 shares in the last quarter. Bangor Savings Bank increased its holdings in shares of United Parcel Service by 1.9% during the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company's stock worth $546,000 after buying an additional 101 shares in the last quarter. Finally, First Dallas Securities Inc. increased its holdings in shares of United Parcel Service by 0.9% during the first quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company's stock worth $1,256,000 after buying an additional 102 shares in the last quarter. Institutional investors own 60.26% of the company's stock.

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.