United Parcel Service, Inc. (NYSE:UPS) had its price target hoisted by equities research analysts at Cowen and Company from $115.00 to $124.00 in a note issued to investors on Monday. The brokerage presently has a “market perform” rating on the transportation company’s stock. Cowen and Company’s target price suggests a potential upside of 3.54% from the company’s current price.

A number of other equities analysts have also weighed in on UPS. BidaskClub raised United Parcel Service from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Citigroup Inc. upgraded United Parcel Service from a “neutral” rating to a “buy” rating and upped their price objective for the company from $115.00 to $128.00 in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $123.00 price objective (up previously from $116.00) on shares of United Parcel Service in a research note on Wednesday, September 20th. Robert W. Baird restated a “hold” rating and issued a $118.00 price objective on shares of United Parcel Service in a research note on Sunday, October 1st. Finally, TheStreet upgraded United Parcel Service from a “c” rating to a “b” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $117.65.

Shares of United Parcel Service (NYSE:UPS) opened at 119.76 on Monday. United Parcel Service has a 12 month low of $102.12 and a 12 month high of $120.80. The company has a 50 day moving average of $117.75 and a 200-day moving average of $111.22. The firm has a market capitalization of $103.71 billion, a P/E ratio of 29.45 and a beta of 0.90.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.12. United Parcel Service had a return on equity of 417.18% and a net margin of 5.68%. The firm had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.49 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Analysts predict that United Parcel Service will post $6.01 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “United Parcel Service, Inc. (UPS) Given New $124.00 Price Target at Cowen and Company” was reported by Watch List News and is the property of of Watch List News. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.watchlistnews.com/united-parcel-service-inc-ups-given-new-124-00-price-target-at-cowen-and-company/1648998.html.

In related news, insider James J. Barber sold 3,556 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $110.85, for a total transaction of $394,182.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alan Gershenhorn sold 17,699 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $114.10, for a total value of $2,019,455.90. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of United Parcel Service by 2,550.9% in the 1st quarter. BlackRock Inc. now owns 45,051,373 shares of the transportation company’s stock valued at $4,834,013,000 after acquiring an additional 43,351,873 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of United Parcel Service by 3,875,867.0% in the 1st quarter. Lazard Asset Management LLC now owns 4,341,083 shares of the transportation company’s stock valued at $465,797,000 after acquiring an additional 4,340,971 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of United Parcel Service by 775.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,766,792 shares of the transportation company’s stock valued at $305,978,000 after acquiring an additional 2,450,868 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of United Parcel Service by 2,005.9% in the 2nd quarter. Federated Investors Inc. PA now owns 1,518,872 shares of the transportation company’s stock valued at $167,972,000 after acquiring an additional 1,446,749 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of United Parcel Service by 119.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,605,748 shares of the transportation company’s stock valued at $288,170,000 after acquiring an additional 1,419,245 shares in the last quarter. 52.86% of the stock is currently owned by institutional investors and hedge funds.

About United Parcel Service

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.

Analyst Recommendations for United Parcel Service (NYSE:UPS)

Receive News & Ratings for United Parcel Service Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Parcel Service Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.