Ryder System (NYSE:R)‘s stock had its “hold” rating reissued by Stifel Nicolaus in a report released on Thursday. They presently have a $86.00 price target on the transportation company’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 3.27% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $98.00 price target (up from $84.00) on shares of Ryder System in a research note on Monday, October 2nd. ValuEngine cut Ryder System from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Aegis reaffirmed a “buy” rating and issued a $91.00 price target (up from $84.00) on shares of Ryder System in a research note on Tuesday, October 10th. Zacks Investment Research raised Ryder System from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. lifted their price target on Ryder System from $69.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ryder System presently has an average rating of “Buy” and a consensus target price of $88.71.
Ryder System (NYSE R) traded down $0.07 during trading hours on Thursday, reaching $88.91. The company had a trading volume of 417,072 shares, compared to its average volume of 437,092. The company has a market cap of $4,700.00, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. Ryder System has a one year low of $62.52 and a one year high of $90.02. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.39.
Ryder System declared that its board has initiated a stock buyback plan on Thursday, December 14th that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, EVP Robert D. Fatovic sold 17,755 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $82.44, for a total transaction of $1,463,722.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dennis C. Cooke sold 32,328 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total value of $2,633,438.88. The disclosure for this sale can be found here. Insiders have sold 63,633 shares of company stock worth $5,174,795 over the last three months. Insiders own 1.95% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its stake in Ryder System by 38.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 436,759 shares of the transportation company’s stock worth $36,928,000 after purchasing an additional 120,817 shares during the period. Neuberger Berman Group LLC grew its stake in Ryder System by 4.8% in the third quarter. Neuberger Berman Group LLC now owns 448,317 shares of the transportation company’s stock worth $37,905,000 after purchasing an additional 20,597 shares during the period. Goldman Sachs Group Inc. grew its stake in Ryder System by 10.9% in the second quarter. Goldman Sachs Group Inc. now owns 643,399 shares of the transportation company’s stock worth $46,312,000 after purchasing an additional 63,055 shares during the period. Cipher Capital LP grew its stake in Ryder System by 182.4% in the third quarter. Cipher Capital LP now owns 61,545 shares of the transportation company’s stock worth $5,204,000 after purchasing an additional 39,751 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in Ryder System by 3.1% in the third quarter. Artisan Partners Limited Partnership now owns 1,788,271 shares of the transportation company’s stock worth $151,198,000 after purchasing an additional 53,772 shares during the period. 89.35% of the stock is currently owned by institutional investors.
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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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