Ryder System (NYSE:R) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Ryder System (NYSE:R) from a hold rating to a buy rating in a research report report published on Wednesday.

R has been the subject of several other reports. Vertical Research downgraded Ryder System from a buy rating to a hold rating and set a $120.00 price objective for the company. in a research report on Wednesday, January 10th. JPMorgan Chase & Co. lifted their target price on Ryder System from $120.00 to $126.00 and gave the company a neutral rating in a research note on Wednesday. Stephens increased their price target on Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on Ryder System from $122.00 to $135.00 and gave the company a buy rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $123.71.

Ryder System Stock Performance

Shares of R stock opened at $122.21 on Wednesday. The company has a market cap of $5.41 billion, a P/E ratio of 15.91 and a beta of 1.40. The business has a 50 day moving average of $114.49 and a two-hundred day moving average of $110.66. Ryder System has a 52 week low of $76.15 and a 52 week high of $122.94. The company has a quick ratio of 0.62, a current ratio of 1.11 and a debt-to-equity ratio of 2.46.

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

Ryder System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s payout ratio is 36.98%.

Insider Activity

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the transaction, the chief marketing officer now owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Ryder System

A number of institutional investors have recently bought and sold shares of R. Headlands Technologies LLC purchased a new position in Ryder System during the 3rd quarter worth approximately $26,000. Contravisory Investment Management Inc. acquired a new stake in shares of Ryder System in the fourth quarter worth $26,000. GAMMA Investing LLC purchased a new position in shares of Ryder System during the fourth quarter valued at $45,000. CWM LLC raised 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. Finally, Exchange Traded Concepts LLC lifted its stake in Ryder System by 406.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock worth $54,000 after acquiring an additional 406 shares in the last quarter. Hedge funds and other institutional investors 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.