Ryder System (NYSE:R) Sets New 52-Week High – Time to Buy?

Shares of Ryder System, Inc. (NYSE:R) hit a new 52-week high during trading on Monday. The company traded as high as $287.50 and last traded at $287.1370, with a volume of 59,090 shares trading hands. The stock had previously closed at $282.55.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Ryder System from $300.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Barclays lifted their price target on shares of Ryder System from $300.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Robert W. Baird cut shares of Ryder System from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $245.00 in a report on Tuesday, September 29th. Susquehanna increased their price objective on shares of Ryder System from $280.00 to $318.00 and gave the stock a “positive” rating in a research report on Tuesday, October 27th. Finally, Janney Montgomery Scott set a $285.00 price objective on shares of Ryder System in a research report on Thursday, October 8th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $296.67.

Ryder System Trading Up 2.6%

The business has a 50 day moving average of $245.00 and a two-hundred day moving average of $237.18. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.86. The firm has a market cap of $11.08 billion, a P/E ratio of 22.03 and a beta of 1.04.

Ryder System (NYSE:R) last released its quarterly earnings data on Thursday, October 22nd. The transportation company reported $4.33 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $0.18. Ryder System had a net margin of 3.98% and a return on equity of 19.14%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the business posted $3.57 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts predict that Ryder System, Inc. will post 15.07 earnings per share for the current year.

Ryder System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 23rd will be given a dividend of $1.01 per share. The ex-dividend date is Monday, November 23rd. This represents a $4.04 annualized dividend and a yield of 1.4%. Ryder System’s dividend payout ratio (DPR) is 30.79%.

Insider Activity

In other news, insider Robert Sanchez sold 1,653 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $280.01, for a total transaction of $462,856.53. Following the completion of the sale, the insider owned 40,828 shares in the company, valued at $11,432,248.28. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 34,614 shares of company stock worth $9,749,529 in the last three months. Insiders own 4.90% of the company’s stock.

Institutional Trading of Ryder System

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Ryder System during the 2nd quarter worth $1,060,749,000. Bank of America Corp DE bought a new stake in shares of Ryder System in the second quarter valued at about $207,689,000. Bank of New York Mellon Corp acquired a new position in shares of Ryder System in the second quarter valued at about $136,320,000. First Trust Advisors LP grew its stake in shares of Ryder System by 81.5% in the first quarter. First Trust Advisors LP now owns 1,010,320 shares of the transportation company’s stock valued at $206,822,000 after acquiring an additional 453,697 shares in the last quarter. Finally, NewEdge Wealth LLC acquired a new position in shares of Ryder System in the second quarter valued at about $74,531,000. 87.47% of the stock is owned by institutional investors and hedge funds.

About Ryder System

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.