Ryder System (NYSE:R) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Shares of Ryder have outperformed the industry it belongs to in the last six months. The stock gained 18.2%, whille the industry appreciated 12.6%. We are encouraged by the company's efforts to reward its shareholders through dividend payments. In 2017, Ryder System hiked its quarterly cash dividend by 2 cents to 46 cents per share. The company's efforts to grow its lease fleet pleases us. Its strong customer base is also a positive. However, a weak rental demand market has been hurting the company for quite some time. The company's high debt levels ansd escalating operating expenses are concerning as well. The company expects fourth quarter 2017 adjusted earnings per share in the band of $1.31 to $1.41, much below the fourth quarter 2016 figure. Moreover, earnings per share for full-year 2017 are expected to contract 16.8% on a year-over-year basis due to the headwinds.”
A number of other research firms have also recently weighed in on R. Buckingham Research increased their price objective on shares of Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. ValuEngine cut shares of Ryder System from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Aegis reaffirmed a “buy” rating and issued a $91.00 price objective (up previously from $84.00) on shares of Ryder System in a report on Tuesday, October 10th. JPMorgan Chase & Co. increased their price objective on shares of Ryder System from $69.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $98.00 price objective (up previously from $84.00) on shares of Ryder System in a report on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Ryder System has a consensus rating of “Hold” and a consensus target price of $85.00.
Shares of Ryder System (NYSE:R) traded up $2.13 during trading hours on Tuesday, hitting $89.30. 562,556 shares of the company’s stock were exchanged, compared to its average volume of 455,432. The firm has a market capitalization of $4,730.00, a PE ratio of 24.07, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51. Ryder System has a 52 week low of $62.52 and a 52 week high of $89.61. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.39.
Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.04. Ryder System had a net margin of 3.19% and a return on equity of 11.00%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company earned $1.67 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. sell-side analysts predict that Ryder System will post 4.51 earnings per share for the current fiscal year.
Ryder System declared that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other news, EVP Robert D. Fatovic sold 17,755 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $82.44, for a total transaction of $1,463,722.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John J. Gleason sold 8,760 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $78.30, for a total transaction of $685,908.00. The disclosure for this sale can be found here. Insiders sold a total of 63,633 shares of company stock valued at $5,174,795 in the last quarter. 1.95% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of R. BlackRock Inc. boosted its position in shares of Ryder System by 41.7% during the 2nd quarter. BlackRock Inc. now owns 5,010,932 shares of the transportation company’s stock valued at $360,685,000 after purchasing an additional 1,475,138 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Ryder System during the 3rd quarter valued at about $47,625,000. Impala Asset Management LLC bought a new position in shares of Ryder System during the 3rd quarter valued at about $23,404,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Ryder System by 208.0% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 356,907 shares of the transportation company’s stock valued at $30,175,000 after purchasing an additional 241,018 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Ryder System by 22.6% during the 3rd quarter. Schroder Investment Management Group now owns 1,073,478 shares of the transportation company’s stock valued at $90,182,000 after purchasing an additional 198,098 shares in the last quarter. Institutional investors own 89.35% of the company’s stock.
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Ryder System Company Profile
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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