UPS - These 3 Stocks Are Down in 2024 but Look Set for a Spectacular Recovery in the Second Half
2024-06-29 18:32:00 ET
Shares in UPS (NYSE: UPS) , aerospace materials company Hexcel (NYSE: HXL) , and security doors and locks company Allegion (NYSE: ALLE) have all experienced a significant dip so far in 2024, lagging behind the S&P 500 index's 14.6% gain over the same period. However, compelling evidence suggests that all three are positioned to outperform the market in the second half and beyond. Here's why.
UPS, the package delivery giant, faced a tumultuous 2023, with some challenges spilling into the first half of 2024. Slowing economic growth has led to declining volume growth and revenue growth. A costly labor contract resolution further exacerbated the situation. To make matters worse, the prolonged labor negotiations led to customers diverting their deliveries to other networks, fearing a strike action.
Image source: Getty Images.
For further details see:
These 3 Stocks Are Down in 2024, but Look Set for a Spectacular Recovery in the Second Half