SunTrust Banks began coverage on shares of Ryder System (NYSE:R) in a report issued on Wednesday morning, The Fly reports. The firm issued a buy rating and a $63.00 price objective on the transportation company’s stock.
R has been the subject of a number of other research reports. TheStreet lowered Ryder System from a b- rating to a c+ rating in a research note on Friday, November 2nd. Loop Capital initiated coverage on Ryder System in a research note on Monday, October 1st. They set a hold rating and a $78.00 price target for the company. Wolfe Research raised Ryder System from a peer perform rating to an outperform rating in a research note on Friday, October 5th. Mizuho reissued a buy rating on shares of Ryder System in a research note on Tuesday, October 30th. Finally, Deutsche Bank dropped their price target on Ryder System from $88.00 to $77.00 and set a buy rating for the company in a research note on Monday, December 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Ryder System has a consensus rating of Hold and an average target price of $76.50.
R traded down $0.97 during midday trading on Wednesday, reaching $50.18. The company had a trading volume of 119,082 shares, compared to its average volume of 733,352. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.86. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 11.08 and a beta of 1.62. Ryder System has a 1 year low of $49.63 and a 1 year high of $90.26.
Ryder System (NYSE:R) last released its quarterly earnings data on Friday, October 26th. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.01). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Ryder System had a return on equity of 9.88% and a net margin of 9.98%. The business’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. On average, equities analysts anticipate that Ryder System will post 5.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Monday, November 19th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.16 dividend on an annualized basis and a yield of 4.30%. Ryder System’s dividend payout ratio (DPR) is presently 47.68%.
In other Ryder System news, EVP John J. Gleason sold 12,795 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $55.14, for a total transaction of $705,516.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David G. Nord acquired 2,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were bought at an average price of $57.24 per share, for a total transaction of $114,480.00. Following the completion of the transaction, the director now owns 3,990 shares of the company’s stock, valued at $228,387.60. The disclosure for this purchase can be found here. Corporate insiders own 2.27% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC purchased a new stake in shares of Ryder System in the second quarter worth approximately $101,000. Point72 Hong Kong Ltd purchased a new stake in shares of Ryder System in the third quarter worth approximately $115,000. Balasa Dinverno & Foltz LLC purchased a new stake in shares of Ryder System in the third quarter worth approximately $220,000. Signition LP purchased a new stake in shares of Ryder System in the third quarter worth approximately $230,000. Finally, Bank of Hawaii purchased a new stake in shares of Ryder System in the third quarter worth approximately $230,000. Institutional investors and hedge funds own 89.08% 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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