Ryder System (NYSE:R) was downgraded by equities researchers at JPMorgan Chase from a “neutral” rating to an “underweight” rating in a report released on Thursday, Marketbeat reports.
A number of other equities research analysts have also recently commented on R. Buckingham Research reissued a “buy” rating and set a $90.00 price target (down from $101.00) on shares of Ryder System in a report on Tuesday, February 20th. KeyCorp reissued an “overweight” rating and set a $95.00 price target (down from $100.00) on shares of Ryder System in a report on Tuesday, February 20th. Zacks Investment Research cut Ryder System from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Stifel Nicolaus reissued a “hold” rating and set a $86.00 price target on shares of Ryder System in a report on Thursday, January 18th. Finally, Seaport Global Securities reissued a “hold” rating on shares of Ryder System in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Ryder System currently has an average rating of “Hold” and an average price target of $88.00.
Shares of Ryder System stock opened at $69.93 on Thursday. Ryder System has a one year low of $62.52 and a one year high of $90.26. The firm has a market capitalization of $3,866.83, a P/E ratio of 15.34, a P/E/G ratio of 0.87 and a beta of 1.47. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.62.
Ryder System (NYSE:R) last announced its earnings results on Friday, February 16th. The transportation company reported $1.37 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.01. Ryder System had a return on equity of 10.47% and a net margin of 10.78%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $1.07 EPS. Ryder System’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts forecast that Ryder System will post 5.59 earnings per share for the current year.
Ryder System declared that its Board of Directors has authorized a share buyback plan on Thursday, December 14th that permits the company to buyback 1,500,000 shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several institutional investors have recently modified their holdings of R. New York State Common Retirement Fund grew its position in shares of Ryder System by 25.6% during the third quarter. New York State Common Retirement Fund now owns 146,360 shares of the transportation company’s stock valued at $12,375,000 after purchasing an additional 29,860 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Ryder System by 4.3% during the third quarter. Ameriprise Financial Inc. now owns 206,195 shares of the transportation company’s stock valued at $17,434,000 after purchasing an additional 8,506 shares in the last quarter. Legal & General Group Plc grew its position in shares of Ryder System by 5.0% during the third quarter. Legal & General Group Plc now owns 93,851 shares of the transportation company’s stock valued at $7,934,000 after purchasing an additional 4,470 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Ryder System by 38.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 436,759 shares of the transportation company’s stock valued at $36,928,000 after purchasing an additional 120,817 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of Ryder System during the third quarter valued at about $221,000. Hedge funds and other institutional investors own 93.35% 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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