Ryder System (NYSE:R) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Ryder System (NYSE:R) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Several other brokerages have also commented on R. The Goldman Sachs Group boosted their price target on Ryder System from $122.00 to $135.00 and gave the stock a buy rating in a research note on Wednesday. Vertical Research lowered Ryder System from a buy rating to a hold rating and set a $120.00 target price on the stock. in a report on Wednesday, January 10th. Stephens increased their price objective 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. Wells Fargo & Company lifted their target price on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ryder System from $120.00 to $126.00 and gave the company a neutral rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Ryder System presently has a consensus rating of Hold and a consensus target price of $126.83.

Ryder System Price Performance

Shares of NYSE:R opened at $121.95 on Wednesday. Ryder System has a 52 week low of $76.15 and a 52 week high of $123.45. The company has a 50-day moving average price of $115.04 and a 200 day moving average price of $110.93. The company has a market cap of $5.35 billion, a P/E ratio of 15.88 and a beta of 1.40. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 2.22.

Ryder System (NYSE:R) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. The firm 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%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.81 earnings per share. Research analysts predict that Ryder System will post 11.9 earnings per share for the current year.

Ryder System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were issued 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 dividend yield of 2.33%. Ryder System’s dividend payout ratio (DPR) is presently 36.98%.

Insider Activity at Ryder System

In other news, CMO Karen M. Jones sold 7,737 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System raised its position in shares of Ryder System by 3.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the transportation company’s stock worth $1,538,000 after buying an additional 400 shares during the period. Fifth Third Bancorp increased its stake in Ryder System by 3.7% during the first quarter. Fifth Third Bancorp now owns 23,709 shares of the transportation company’s stock worth $2,850,000 after acquiring an additional 843 shares during the last quarter. Measured Wealth Private Client Group LLC raised its holdings in shares of Ryder System by 30.9% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,686 shares of the transportation company’s stock worth $683,000 after purchasing an additional 1,341 shares during the period. State of Michigan Retirement System lifted its stake in shares of Ryder System by 2.8% in the 1st quarter. State of Michigan Retirement System now owns 10,930 shares of the transportation company’s stock valued at $1,314,000 after purchasing an additional 300 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Ryder System by 120.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,437 shares of the transportation company’s stock worth $413,000 after purchasing an additional 1,880 shares during the period. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

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.