Ryder System (NYSE:R) Reaches New 52-Week High After Better-Than-Expected Earnings

Shares of Ryder System, Inc. (NYSE:R) reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $122.94 and last traded at $121.59, with a volume of 34350 shares. The stock had previously closed at $122.01.

The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.43. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. Ryder System’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.81 earnings per share.

Ryder System Announces Dividend

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

Analyst Upgrades and Downgrades

R has been the topic of several research reports. Robert W. Baird restated a “buy” rating and issued a $140.00 target price on shares of Ryder System in a research report on Wednesday, January 3rd. StockNews.com upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on Ryder System from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group raised their target price on Ryder System from $122.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Stephens increased their price target on Ryder System from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.71.

Insider Transactions at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of Ryder System 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 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 available at the SEC website. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in Ryder System by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,442,545 shares of the transportation company’s stock valued at $396,099,000 after purchasing an additional 890,986 shares during the period. Earnest Partners LLC lifted its holdings in Ryder System by 2.5% during the 3rd quarter. Earnest Partners LLC now owns 1,666,621 shares of the transportation company’s stock worth $178,245,000 after buying an additional 40,086 shares during the last quarter. LSV Asset Management lifted its holdings in Ryder System by 3.8% during the 4th quarter. LSV Asset Management now owns 1,629,618 shares of the transportation company’s stock worth $187,504,000 after buying an additional 59,156 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Ryder System by 12.3% during the 3rd quarter. AQR Capital Management LLC now owns 845,253 shares of the transportation company’s stock worth $90,400,000 after buying an additional 92,760 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Ryder System by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 775,382 shares of the transportation company’s stock worth $82,927,000 after buying an additional 56,851 shares during the last quarter. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Ryder System Price Performance

The company has a market capitalization of $5.41 billion, a PE ratio of 14.02 and a beta of 1.40. The company has a current ratio of 1.11, a quick ratio of 0.62 and a debt-to-equity ratio of 2.46. The stock has a fifty day simple moving average of $114.74 and a 200-day simple moving average of $110.74.

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.