Stephens Raises Ryder System (NYSE:R) Price Target to $120.00

Ryder System (NYSE:R) had its price target raised by Stephens from $113.00 to $120.00 in a research note released on Wednesday, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

Several other analysts also recently weighed in on R. Vertical Research downgraded Ryder System from a buy rating to a hold rating and set a $120.00 target price for the company. in a research note on Wednesday, January 10th. StockNews.com downgraded Ryder System from a buy rating to a hold rating in a research note on Saturday, April 13th. Wells Fargo & Company boosted their price objective on Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. 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. Finally, JPMorgan Chase & Co. upped their price target on Ryder System from $117.00 to $120.00 and gave the company a neutral rating in a report on Thursday, February 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $123.71.

Ryder System Stock Down 0.4 %

R opened at $121.94 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 2.22. The business has a 50 day moving average price of $115.04 and a two-hundred day moving average price of $110.87. Ryder System has a 52 week low of $76.15 and a 52 week high of $123.45. The company has a market cap of $5.34 billion, a PE ratio of 15.88 and a beta of 1.40.

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

Ryder System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s payout ratio is presently 36.98%.

Insider Buying and Selling

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the business’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 transaction of $877,994.76. Following the sale, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.10% of the stock is owned by corporate insiders.

Institutional Trading of Ryder System

Several institutional investors and hedge funds have recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in shares of Ryder System in the fourth quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in Ryder System during the third quarter valued at approximately $26,000. GAMMA Investing LLC bought a new stake in Ryder System during the fourth quarter valued at approximately $45,000. CWM LLC raised its stake in shares of Ryder System by 33.9% during the third quarter. CWM LLC now owns 438 shares of the transportation company’s stock worth $47,000 after acquiring an additional 111 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Ryder System by 406.0% during the third 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.