United Parcel Service, Inc. (UPS) Lowered to Sell at Zacks Investment Research
Zacks Investment Research cut shares of United Parcel Service, Inc. (NYSE:UPS) from a hold rating to a sell rating in a research note issued to investors on Monday.
According to Zacks, “Shares of United Parcel Service have underperformed the Zacks-categorized Transportation-Air Freight industry over the last one year. The company is being troubled by headwinds like higher costs and foreign exchange-related issues. Foreign currency-related headwinds are expected to hurt results in the second quarter of 2017, scheduled to be revealed on Jul 27. The negative sentiment surrounding the stock can be gauged from the 0.7% decline in the Zacks Consensus Estimate to $1.46 per share over the last two months. United Parcel's efforts to reward its shareholders are, however, impressive. The company hiked quarterly dividend by 6.4% earlier this year. Its expansion efforts also raise optimism.”
A number of other research firms have also issued reports on UPS. Seaport Global Securities initiated coverage on United Parcel Service in a research note on Tuesday, June 6th. They set a neutral rating on the stock. BidaskClub upgraded United Parcel Service from a sell rating to a hold rating in a research note on Tuesday, June 20th. Sanford C. Bernstein restated an outperform rating and set a $127.00 target price on shares of United Parcel Service in a research report on Monday, July 3rd. Finally, Oppenheimer Holdings, Inc. restated an outperform rating and set a $116.00 target price on shares of United Parcel Service in a research report on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $114.57.
Shares of United Parcel Service (UPS) opened at 112.58 on Monday. The stock’s 50 day moving average price is $109.86 and its 200 day moving average price is $108.36. United Parcel Service has a 12-month low of $102.12 and a 12-month high of $120.44. The firm has a market capitalization of $97.69 billion, a price-to-earnings ratio of 28.76 and a beta of 0.88.
United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, April 27th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. United Parcel Service had a return on equity of 320.39% and a net margin of 5.60%. The company had revenue of $15.32 billion for the quarter, compared to analyst estimates of $15.19 billion. During the same period in the previous year, the company posted $1.27 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts expect that United Parcel Service will post $5.95 earnings per share for the current year.
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In other news, SVP Kathleen M. Gutmann sold 2,000 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $107.49, for a total value of $214,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in United Parcel Service by 2,550.9% in the first quarter. BlackRock Inc. now owns 45,051,373 shares of the transportation company’s stock worth $4,834,013,000 after buying an additional 43,351,873 shares during the last quarter. Norges Bank purchased a new position in United Parcel Service during the fourth quarter worth about $696,564,000. Lazard Asset Management LLC boosted its position in United Parcel Service by 3,875,867.0% in the first quarter. Lazard Asset Management LLC now owns 4,341,083 shares of the transportation company’s stock worth $465,797,000 after buying an additional 4,340,971 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in United Parcel Service by 5.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 24,295,470 shares of the transportation company’s stock worth $2,606,905,000 after buying an additional 1,246,981 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in United Parcel Service by 4.0% in the first quarter. Wellington Management Group LLP now owns 29,387,614 shares of the transportation company’s stock worth $3,153,291,000 after buying an additional 1,117,802 shares during the last quarter. Hedge funds and other institutional investors own 53.26% of the company’s stock.
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.
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