What's Going On With UPS Stock Today?

United Parcel Service Inc UPS shares are trading higher Tuesday after the company reported better-than-expected earnings results and reaffirmed full-year guidance.

UPS said third-quarter revenue increased 4.2% year-over-year to $24.2 billion, which missed average analyst estimates of $24.42 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $2.99 per share, which beat average estimates of $2.87 per share. UPS said its earnings results were up 10.3% year-over-year. 

"The macro environment is very dynamic, but we are on track to achieving our 2022 financial targets by executing our strategy and controlling what we can control," said Carol Tomé, CEO of UPS.

UPS reaffirmed its full-year revenue guidance of approximately $102 billion. Full-year adjusted operating margins are expected to be around 13.7%. 

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Jefferies analyst Stephanie Moore initiated coverage on UPS with a Buy rating and announced a $190 price target on Tuesday.

UPS Price Action: UPS has a 52-week high of $233.72 and a 52-week low of $154.87.

The stock was up 2.51% at $171.75 at time of publication.

Photo: Chris Sampson from Flickr.