UPS Stock Price Turns Lackluster
Not even the prestige of being the world’s largest package carrier and the promise of delivering a majority of the goods purchased over the Internet have seemed to help United Parcel Service impress Wall Street.
UPS is not alone in a market that apparently anticipates a difficult future for the trucking industry. But some analysts say Wall Street’s concerns about transportation companies are misplaced.
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Despite the company’s reports of volume gains and record profits in its first quarter as a public corporation, UPS stock price fell from near $65 a share before the earnings release on Jan. 31 to $57.63 a share on Feb. 3, the lowest mark since shares were issued at $50 in an initial public offering Nov. 9.
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Arkansas Best Corp. of Fort Smith, Ark., which reported the highest income in the company’s history on the strength of a banner year by its long-haul less-than-truckload subsidiary, ABF Freight System, has seen its stock price tumble nearly $2 a share to $12 on Feb. 3 since releasing its financial results on Jan. 20.
