Ryder System (NYSE:R) Given New $135.00 Price Target at The Goldman Sachs Group

Ryder System (NYSE:R) had its target price boosted by The Goldman Sachs Group from $122.00 to $135.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the transportation company’s stock.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research note on Thursday, February 15th. Stephens lifted their price target on shares of Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a research note on Wednesday. Robert W. Baird reiterated a buy rating and issued a $140.00 price target on shares of Ryder System in a research note on Wednesday, January 3rd. Finally, StockNews.com lowered shares of Ryder System from a buy rating to a hold rating in a research report on Saturday, April 13th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $123.71.

Ryder System Trading Up 0.2 %

Shares of NYSE R opened at $122.21 on Wednesday. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.11 and a quick ratio of 0.62. The stock has a market cap of $5.40 billion, a P/E ratio of 14.00 and a beta of 1.40. Ryder System has a 1 year low of $76.15 and a 1 year high of $122.94. The firm has a 50-day moving average of $114.49 and a 200 day moving average of $110.66.

Ryder System (NYSE:R) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.43. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.81 earnings per share. As a group, sell-side analysts expect that Ryder System will post 11.9 EPS for the current fiscal year.

Ryder System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a $0.71 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.32%. Ryder System’s payout ratio is currently 32.53%.

Insiders Place Their Bets

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now directly owns 12,396 shares in the company, valued at $1,406,698.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Ryder System

Several hedge funds have recently modified their holdings of R. Headlands Technologies LLC purchased a new position in shares of Ryder System in the third quarter worth $26,000. Contravisory Investment Management Inc. purchased a new stake in Ryder System during the fourth quarter valued at $26,000. GAMMA Investing LLC purchased a new stake in Ryder System during the fourth quarter valued at $45,000. CWM LLC raised its stake in Ryder System by 33.9% during the third quarter. CWM LLC now owns 438 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 111 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Ryder System by 406.0% during the third quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Ryder System Company Profile

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.