Ryder System (R) Shares Down 5.2%

Ryder System, Inc. (NYSE:R) traded down 5.2% on Thursday . The stock traded as low as $79.68 and last traded at $79.72. 582,000 shares traded hands during mid-day trading, an increase of 23% from the average session volume of 474,789 shares. The stock had previously closed at $84.06.

Several equities research analysts recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and issued a $86.00 target price on shares of Ryder System in a report on Thursday, January 18th. Zacks Investment Research upgraded Ryder System from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Monday, January 15th. ValuEngine lowered Ryder System from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Buckingham Research lifted their price target on Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $88.71.

The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.39. The stock has a market cap of $4,220.99, a PE ratio of 21.86, a P/E/G ratio of 0.90 and a beta of 1.41.

Ryder System declared that its Board of Directors has approved a stock buyback program on Thursday, December 14th that allows the company to repurchase 1,500,000 outstanding shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, EVP John J. Gleason sold 8,760 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $78.30, for a total transaction of $685,908.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert D. Fatovic sold 17,755 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $82.44, for a total value of $1,463,722.20. The disclosure for this sale can be found here. Insiders own 1.95% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of Ryder System by 38.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 436,759 shares of the transportation company’s stock valued at $36,928,000 after purchasing an additional 120,817 shares during the period. Neuberger Berman Group LLC increased its position in shares of Ryder System by 4.8% during the third quarter. Neuberger Berman Group LLC now owns 448,317 shares of the transportation company’s stock valued at $37,905,000 after purchasing an additional 20,597 shares during the period. Earnest Partners LLC increased its position in shares of Ryder System by 1.9% during the third quarter. Earnest Partners LLC now owns 277,591 shares of the transportation company’s stock valued at $23,470,000 after purchasing an additional 5,059 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Ryder System by 7.3% during the third quarter. Parametric Portfolio Associates LLC now owns 210,949 shares of the transportation company’s stock valued at $17,836,000 after purchasing an additional 14,338 shares during the period. Finally, Cipher Capital LP increased its position in shares of Ryder System by 182.4% during the third quarter. Cipher Capital LP now owns 61,545 shares of the transportation company’s stock valued at $5,204,000 after purchasing an additional 39,751 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

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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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