U.S. Markets closed

UPS to Hire 100,000 Workers Expecting a Record Holiday Season

Zacks Equity Research

United Parcel Service, Inc. UPS is leaving no stone unturned to achieve a record-setting peak shipping season. To this end, the company hopes to hire 100,000 seasonal employees, anticipating a significant expansion in package volumes during the November 2019-January 2020 period. UPS expects daily package deliveries to nearly double its per day average of 20 million.

Notably, last year too, the company hired the same number of temporary workers for the peak holiday season when it expected to deliver approximately 800 million packages, indicating a 5% rise from what was delivered in 2017.

Last month, the company announced that it will not levy additional surcharges on U.S. residential deliveries (barring contractual exception) during this year’s peak holiday season. This is a bonus for customers and should further boost package delivery volumes. (Read more: UPS to Refrain From Delivery Surcharges for 2019 Peak Season)

Moreover, UPS has added 20 747-8 and 767 aircraft as well as updated its processing and delivery facilities on expectations of a large number of deliveries during the peak season. Additionally, as part of a capital investment plan, the company is enhancing its air and ground capacity.

United Parcel Service, Inc. Price

 

United Parcel Service, Inc. Price

United Parcel Service, Inc. price | United Parcel Service, Inc. Quote


Zacks Rank & Key Picks

UPS carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are GATX Corporation GATX, Allegiant Travel Company ALGT and Copa Holdings, S.A. CPA. While Copa sports a Zacks Rank #1 (Strong Buy), GATX and Allegiant carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of GATX, Allegiant and Copa have rallied more than 13%, 50% and 28%, respectively, so far this year.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Allegiant Travel Company (ALGT) : Free Stock Analysis Report
 
Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
 
GATX Corporation (GATX) : Free Stock Analysis Report
 
United Parcel Service, Inc. (UPS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research