Zacks Investment Research upgraded shares of Ryder System (NYSE:R) from a hold rating to a buy rating in a research report released on Monday, January 15th. The firm currently has $100.00 price objective on the transportation company’s stock.
According to Zacks, “Shares of Ryder have outperformed the industry it belongs to in the last six months. The stock gained 22.8%, while the industry appreciated 14.8%. 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. Moreover, the Zacks Consensus Estimate for fourth-quarter has been revised upward 3.1% in the last 90 days. Detailed results will be out on Feb 16. However, a weak rental demand and high operating expenses may hurt the company's fourth-quarter results.”
R has been the subject of several other research reports. ValuEngine cut shares of Ryder System from a buy rating to a hold rating in a research note on Monday, October 2nd. Robert W. Baird reissued an outperform rating and issued a $98.00 price target (up previously from $84.00) on shares of Ryder System in a research note on Monday, October 2nd. JPMorgan Chase & Co. increased their price target on shares of Ryder System from $69.00 to $82.00 and gave the company a neutral rating in a research note on Thursday, October 12th. Aegis reissued a buy rating and issued a $91.00 price target (up previously from $84.00) on shares of Ryder System in a research note on Tuesday, October 10th. Finally, Buckingham Research increased their price target on shares of Ryder System from $92.00 to $93.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $88.71.
Shares of Ryder System (NYSE R) traded down $0.09 during trading on Monday, hitting $88.82. 741,600 shares of the company’s stock were exchanged, compared to its average volume of 460,515. The firm has a market capitalization of $4,702.82, a P/E ratio of 24.07, a P/E/G ratio of 1.03 and a beta of 1.52. Ryder System has a 1-year low of $62.52 and a 1-year high of $90.02. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.96 and a current ratio of 1.02.
Ryder System (NYSE:R) last released its earnings results on Tuesday, October 24th. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.67 earnings per share. sell-side analysts expect that Ryder System will post 4.51 earnings per share for the current fiscal year.
Ryder System announced that its board has initiated a share buyback program on Thursday, December 14th that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Ryder System news, EVP Robert D. Fatovic sold 17,755 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $82.44, for a total value of $1,463,722.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John J. Gleason sold 8,760 shares of the stock in a transaction that occurred on 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. Over the last quarter, insiders have sold 63,633 shares of company stock worth $5,174,795. 1.95% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new position in shares of Ryder System in the 4th quarter valued at $260,000. Schwab Charles Investment Management Inc. grew its position in Ryder System by 16.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 509,469 shares of the transportation company’s stock worth $42,883,000 after purchasing an additional 72,710 shares during the last quarter. Bank of Montreal Can grew its position in Ryder System by 14.9% during the 4th quarter. Bank of Montreal Can now owns 139,697 shares of the transportation company’s stock worth $11,759,000 after purchasing an additional 18,104 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Ryder System by 7.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 210,949 shares of the transportation company’s stock worth $17,836,000 after purchasing an additional 14,338 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in Ryder System by 18.6% during the 3rd quarter. GSA Capital Partners LLP now owns 15,529 shares of the transportation company’s stock worth $1,313,000 after purchasing an additional 2,430 shares during the last quarter. 89.37% of the stock is currently owned by institutional investors.
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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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