Buckingham Research Cuts Ryder System (R) Price Target to $89.00

Ryder System (NYSE:R) had its price target trimmed by Buckingham Research from $91.00 to $89.00 in a research report report published on Friday morning. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other brokerages have also commented on R. Zacks Investment Research raised Ryder System from a hold rating to a buy rating and set a $87.00 price objective on the stock in a report on Tuesday, August 21st. Stifel Nicolaus increased their price objective on Ryder System from $76.00 to $81.00 and gave the company a hold rating in a report on Thursday, July 26th. Mizuho reissued a buy rating and set a $90.00 price objective on shares of Ryder System in a report on Thursday, July 26th. Deutsche Bank assumed coverage on Ryder System in a report on Tuesday, September 4th. They set a buy rating and a $88.00 price objective on the stock. Finally, ValuEngine lowered Ryder System from a hold rating to a sell rating in a report on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Ryder System has a consensus rating of Hold and a consensus target price of $82.90.

R stock traded down $0.13 during mid-day trading on Friday, hitting $66.76. The stock had a trading volume of 509,146 shares, compared to its average volume of 536,002. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.68 and a quick ratio of 0.64. Ryder System has a 1-year low of $65.65 and a 1-year high of $90.26. The firm has a market cap of $3.88 billion, a P/E ratio of 14.74 and a beta of 1.45.

Ryder System (NYSE:R) last issued its earnings results on Wednesday, July 25th. The transportation company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.13. Ryder System had a return on equity of 9.96% and a net margin of 9.99%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the firm posted $1.00 EPS. The business’s revenue was up 16.9% compared to the same quarter last year. As a group, research analysts expect that Ryder System will post 5.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Monday, November 19th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.16 annualized dividend and a yield of 3.24%. Ryder System’s payout ratio is 47.68%.

In related news, CEO Robert E. Sanchez sold 27,830 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $78.04, for a total transaction of $2,171,853.20. Following the completion of the sale, the chief executive officer now owns 119,387 shares in the company, valued at approximately $9,316,961.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Art A. Garcia sold 3,412 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $76.82, for a total value of $262,109.84. Following the sale, the chief financial officer now owns 16,201 shares of the company’s stock, valued at approximately $1,244,560.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,865 shares of company stock valued at $4,502,858. 2.27% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Ryder System by 4.7% in the 2nd quarter. BlackRock Inc. now owns 6,325,825 shares of the transportation company’s stock worth $454,573,000 after acquiring an additional 282,892 shares during the period. Pzena Investment Management LLC lifted its position in shares of Ryder System by 25.8% in the 2nd quarter. Pzena Investment Management LLC now owns 2,086,223 shares of the transportation company’s stock worth $149,916,000 after acquiring an additional 427,482 shares during the period. LSV Asset Management lifted its position in shares of Ryder System by 5.8% in the 2nd quarter. LSV Asset Management now owns 1,889,814 shares of the transportation company’s stock worth $135,802,000 after acquiring an additional 102,980 shares during the period. Wells Fargo & Company MN lifted its position in shares of Ryder System by 3.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,365,424 shares of the transportation company’s stock worth $98,119,000 after acquiring an additional 51,703 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Ryder System by 0.3% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,229,836 shares of the transportation company’s stock worth $89,520,000 after buying an additional 4,009 shares during the period. Institutional investors own 90.03% of the company’s stock.

Ryder System Company Profile

Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as ancillary maintenance and fleet support services.

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