Zacks Investment Research upgraded shares of Ryder System, Inc. (NYSE:R) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $92.00 target price on the transportation company’s stock.
According to Zacks, “Shares of Ryder have outperformed the industry it belongs to in the last six months. Ushering in further good news the company reported better-than-expected earnings per share and revenues in the third quarter of 2017. The top line also grew on a year-over-year basis. Growth was witnessed across all the segments. Ryder has been making efforts to grow its lease fleet. Its efforts to reward shareholders are also encouraging. The company has been paying dividends for more than 40 years. In 2016, Ryder hiked its quarterly cash dividend by 7.3% to 44 cents per share. Also, its strong customer base augurs well. However, earnings declined significantly on a year-over-year basis in the third quarter. Weak rental demand hurt results.”
Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Ryder System from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Buckingham Research lifted their target price on shares of Ryder System from $92.00 to $93.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Aegis reiterated a buy rating and issued a $91.00 target price (up previously from $84.00) on shares of Ryder System in a research note on Tuesday, October 10th. ValuEngine upgraded shares of Ryder System from a hold rating to a buy rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus reiterated a hold rating and issued a $68.00 target price on shares of Ryder System in a research note on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ryder System currently has a consensus rating of Buy and an average target price of $85.00.
Ryder System (NYSE:R) traded up 0.85% during mid-day trading on Tuesday, reaching $81.77. The company had a trading volume of 392,831 shares. Ryder System has a 52-week low of $62.52 and a 52-week high of $85.50. The company’s 50 day moving average is $82.22 and its 200 day moving average is $73.89. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 19.69 and a beta of 1.41.
Ryder System (NYSE:R) last posted its earnings results on Tuesday, October 24th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. Ryder System’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Ryder System will post $4.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 20th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, November 17th. Ryder System’s dividend payout ratio (DPR) is presently 49.86%.
In other Ryder System news, insider John S. Sensing sold 4,502 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $73.01, for a total transaction of $328,691.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert E. Sanchez sold 26,275 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $72.43, for a total transaction of $1,903,098.25. Following the sale, the chief executive officer now owns 107,237 shares of the company’s stock, valued at approximately $7,767,175.91. The disclosure for this sale can be found here. Insiders own 1.95% of the company’s stock.
Several institutional investors have recently modified their holdings of R. BlackRock Inc. raised its position in shares of Ryder System by 5,520.5% during the 1st quarter. BlackRock Inc. now owns 3,535,794 shares of the transportation company’s stock valued at $266,741,000 after acquiring an additional 3,472,885 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ryder System during the 2nd quarter valued at $11,423,000. Schroder Investment Management Group raised its position in shares of Ryder System by 20.1% during the 2nd quarter. Schroder Investment Management Group now owns 875,380 shares of the transportation company’s stock valued at $62,896,000 after acquiring an additional 146,745 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ryder System by 238.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 207,424 shares of the transportation company’s stock valued at $14,929,000 after acquiring an additional 146,118 shares during the last quarter. Finally, Fiduciary Management Inc. WI raised its position in shares of Ryder System by 13.6% during the 2nd quarter. Fiduciary Management Inc. WI now owns 1,211,960 shares of the transportation company’s stock valued at $87,237,000 after acquiring an additional 145,219 shares during the last quarter. Institutional investors own 89.64% of the company’s stock.
About Ryder System
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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