Zacks Investment Research upgraded shares of Ryder System (NYSE:R) from a sell rating to a hold rating in a research note issued to investors on Tuesday, January 9th.
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.”
Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Ryder System from a buy rating to a hold rating in a research report on Monday, October 2nd. Robert W. Baird reissued an outperform rating and set a $98.00 target price (up previously from $84.00) on shares of Ryder System in a research note on Monday, October 2nd. JPMorgan Chase & Co. boosted their target price on Ryder System from $69.00 to $82.00 and gave the stock a neutral rating in a research note on Thursday, October 12th. Aegis reissued a buy rating and set a $91.00 target price (up previously from $84.00) on shares of Ryder System in a research note on Tuesday, October 10th. Finally, Buckingham Research boosted their target price on Ryder System from $92.00 to $93.00 and gave the stock a buy rating in a research note on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $88.71.
Shares of Ryder System (NYSE R) opened at $84.11 on Tuesday. The stock has a market cap of $4,618.10, a PE ratio of 22.79, a PEG ratio of 1.01 and a beta of 1.41. Ryder System has a 52-week low of $62.52 and a 52-week high of $90.26. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.02 and a quick ratio of 0.96.
Ryder System declared that its board has initiated a stock buyback plan on Thursday, December 14th that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, EVP Robert D. Fatovic sold 17,755 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $82.44, for a total value of $1,463,722.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John J. Gleason sold 8,760 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $78.30, for a total value of $685,908.00. The disclosure for this sale can be found here. Corporate insiders own 1.95% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ryder System by 8.7% during 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 in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Ryder System by 4.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,099 shares of the transportation company’s stock worth $439,000 after purchasing an additional 282 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Ryder System by 5.8% in the 2nd quarter. Advisor Group Inc. now owns 9,348 shares of the transportation company’s stock worth $672,000 after purchasing an additional 514 shares in the last quarter. Comerica Securities Inc. lifted its holdings in shares of Ryder System by 1.5% in the 2nd quarter. Comerica Securities Inc. now owns 38,043 shares of the transportation company’s stock worth $2,738,000 after purchasing an additional 550 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Ryder System by 0.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 87,470 shares of the transportation company’s stock worth $6,296,000 after purchasing an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 89.68% 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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