On the surface, United Parcel Service (NYSE: UPS) doesn't look like the type of company you would expect to struggle. Founded in 1907 and going public in 1999, the Atlanta-based logistics giant is a ubiquitous presence in America's package delivery market -- an opportunity that continues to expand as more people turn to online shopping.

But while the overall opportunity is expanding, UPS is seeing its market share slowly erode as competition intensifies. Shares have dropped an alarming 44% over the last five years. Let's dig deeper to see if this dip is a buying opportunity or the start of an even longer-term decline.

When UPS went public roughly 26 years ago, it was the largest initial public offering (IPO) in the world with a starting valuation of $60.2 billion. Over the next two decades, the company benefited from the rising popularity of online shopping as e-commerce platforms like Amazon and eBay drove up the volume of small parcel shipments to residential households.

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Source Fool.com