Ryder System (NYSE:R)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a report released on Thursday. They presently have a $86.00 target price on the transportation company’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 3.27% from the company’s previous close.
A number of other research firms have also weighed in on R. Buckingham Research lifted their target price on Ryder System from $92.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. ValuEngine lowered Ryder System from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Zacks Investment Research raised Ryder System from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Monday. Aegis reaffirmed a “buy” rating and set a $91.00 target price (up previously from $84.00) on shares of Ryder System in a report on Tuesday, October 10th. Finally, JPMorgan Chase & Co. lifted their price target on Ryder System from $69.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ryder System currently has an average rating of “Buy” and an average price target of $88.71.
Ryder System (NYSE R) traded down $0.07 during mid-day trading on Thursday, reaching $88.91. The company’s stock had a trading volume of 417,072 shares, compared to its average volume of 437,092. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.39. The stock has a market cap of $4,700.00, a price-to-earnings ratio of 23.96, a PEG ratio of 1.08 and a beta of 1.51. Ryder System has a 1-year low of $62.52 and a 1-year high of $90.02.
Ryder System (NYSE:R) last posted its earnings results on Tuesday, October 24th. The transportation company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. Ryder System had a return on equity of 10.72% and a net margin of 2.75%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. sell-side analysts expect that Ryder System will post 4.51 EPS for the current fiscal year.
Ryder System announced that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that allows the company to buyback 1,500,000 shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, EVP Robert D. Fatovic sold 17,755 shares of Ryder System stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $82.44, for a total transaction of $1,463,722.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis C. Cooke sold 32,328 shares of Ryder System stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total value of $2,633,438.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,633 shares of company stock valued at $5,174,795. Corporate insiders own 1.95% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlueMountain Capital Management LLC bought a new stake in Ryder System in the 2nd quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ryder System by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock worth $141,000 after buying an additional 156 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Ryder System by 94.7% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock worth $183,000 after buying an additional 1,240 shares during the last quarter. King Luther Capital Management Corp bought a new stake in Ryder System in the 3rd quarter worth approximately $221,000. Finally, Boothbay Fund Management LLC bought a new stake in Ryder System in the 3rd quarter worth approximately $231,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.
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About Ryder System
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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