Bank of America Boosts United Parcel Service (NYSE:UPS) Price Target to $160.00

United Parcel Service (NYSE:UPS) had its target price increased by Bank of America from $157.00 to $160.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other research firms have also weighed in on UPS. Evercore ISI reissued an in-line rating and set a $154.00 price objective on shares of United Parcel Service in a research note on Wednesday, March 27th. TheStreet raised United Parcel Service from a c rating to a b- rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $154.00 to $150.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Raymond James lowered their price objective on United Parcel Service from $185.00 to $175.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 31st. Finally, Oppenheimer lifted their target price on United Parcel Service from $153.00 to $157.00 and gave the company an outperform rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $165.23.

United Parcel Service Stock Performance

Shares of NYSE:UPS opened at $147.53 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.10 and a quick ratio of 1.10. The business’s 50 day moving average price is $149.56 and its 200-day moving average price is $150.96. The firm has a market capitalization of $125.79 billion, a PE ratio of 21.38, a P/E/G ratio of 1.68 and a beta of 1.05. United Parcel Service has a 1 year low of $133.68 and a 1 year high of $192.98.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. The firm 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 revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.20 earnings per share. As a group, equities research analysts expect that United Parcel Service will post 8.21 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, February 16th. This is an increase from United Parcel Service’s previous quarterly dividend of $1.62. United Parcel Service’s payout ratio is currently 94.49%.

Insider Activity at United Parcel Service

In other news, Director Eva C. Boratto acquired 1,400 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average price of $142.30 per share, for a total transaction of $199,220.00. Following the acquisition, the director now owns 1,400 shares of the company’s stock, valued at $199,220. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of UPS. GHP Investment Advisors Inc. grew its stake in United Parcel Service by 2.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 16,673 shares of the transportation company’s stock worth $2,586,000 after purchasing an additional 371 shares in the last quarter. Meridian Wealth Management LLC boosted its position in shares of United Parcel Service by 2.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,058 shares of the transportation company’s stock worth $944,000 after acquiring an additional 153 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of United Parcel Service by 0.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 42,132 shares of the transportation company’s stock worth $6,567,000 after acquiring an additional 274 shares in the last quarter. Strategic Blueprint LLC boosted its position in shares of United Parcel Service by 23.4% during the 3rd quarter. Strategic Blueprint LLC now owns 7,789 shares of the transportation company’s stock worth $1,214,000 after acquiring an additional 1,476 shares in the last quarter. Finally, ARK Investment Management LLC boosted its position in shares of United Parcel Service by 7.3% during the 3rd quarter. ARK Investment Management LLC now owns 11,954 shares of the transportation company’s stock worth $1,863,000 after acquiring an additional 817 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

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.