Ryder System (NYSE:R) Price Target Raised to $126.00

Ryder System (NYSE:R) had its target price lifted by JPMorgan Chase & Co. from $120.00 to $126.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Other research analysts have also issued research reports about the stock. Vertical Research lowered shares of Ryder System from a buy rating to a hold rating and set a $120.00 price target on the stock. in a research note on Wednesday, January 10th. The Goldman Sachs Group restated a buy rating and set a $122.00 price target on shares of Ryder System in a research note on Thursday, February 15th. Wells Fargo & Company upped their price target on shares of Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Robert W. Baird restated a buy rating and set a $140.00 price target on shares of Ryder System in a research note on Wednesday, January 3rd. Finally, Stephens upped their price target on shares of Ryder System from $113.00 to $120.00 and gave the company an equal weight rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $123.71.

Ryder System Price Performance

Shares of R opened at $122.21 on Wednesday. The company has a 50 day moving average price of $114.49 and a 200-day moving average price of $110.66. Ryder System has a fifty-two week low of $76.15 and a fifty-two week high of $122.94. The stock has a market capitalization of $5.40 billion, a PE ratio of 14.00 and a beta of 1.40. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.62 and a current ratio of 1.11.

Ryder System (NYSE:R) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the company posted $2.81 earnings per share. Ryder System’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Ryder System will post 11.9 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were paid a $0.71 dividend. The ex-dividend date of this dividend 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%.

Insider Transactions at Ryder System

In other news, CMO Karen M. Jones sold 7,737 shares of the stock in a transaction 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 sale, the chief marketing officer now owns 12,396 shares in the company, valued at $1,406,698.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.10% of the company’s stock.

Institutional Trading of Ryder System

Several hedge funds and other institutional investors have recently added to or reduced their stakes in R. CWM LLC grew its position 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 buying an additional 111 shares during the period. SG Americas Securities LLC grew its position in Ryder System by 331.2% during the third quarter. SG Americas Securities LLC now owns 9,280 shares of the transportation company’s stock valued at $992,000 after buying an additional 7,128 shares during the period. Exchange Traded Concepts LLC lifted its holdings 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. Measured Wealth Private Client Group LLC purchased a new position in Ryder System during the third quarter valued at $243,000. Finally, Handelsbanken Fonder AB lifted its holdings in Ryder System by 95.2% during the third quarter. Handelsbanken Fonder AB now owns 7,026 shares of the transportation company’s stock valued at $751,000 after purchasing an additional 3,426 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

About Ryder System

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.