Ryder System, Inc. (NYSE:R) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 2,506,300 shares, a drop of 10.6% from the June 30th total of 2,802,900 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 511,200 shares, the days-to-cover ratio is presently 4.9 days.
R traded up $0.96 on Friday, reaching $47.49. 150,879 shares of the stock were exchanged, compared to its average volume of 624,855. The company’s 50-day moving average price is $54.57 and its 200 day moving average price is $58.68. The firm has a market capitalization of $2.57 billion, a PE ratio of 8.20 and a beta of 1.81. Ryder System has a fifty-two week low of $44.80 and a fifty-two week high of $79.95. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.59 and a quick ratio of 0.56.
Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.40. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. Ryder System had a return on equity of 11.46% and a net margin of 3.60%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. As a group, equities analysts forecast that Ryder System will post 5.69 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on R shares. Loop Capital cut Ryder System from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $70.00 to $62.00 in a research report on Tuesday, July 2nd. KeyCorp lowered their price objective on Ryder System from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Zacks Investment Research raised Ryder System from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. TheStreet cut Ryder System from a “b-” rating to a “c+” rating in a research report on Thursday, May 30th. Finally, SunTrust Banks lowered their price target on Ryder System to $65.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $73.50.
In other news, EVP Karen M. Jones sold 1,767 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $52.21, for a total value of $92,255.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in R. Retirement Systems of Alabama boosted its holdings in shares of Ryder System by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 69,328 shares of the transportation company’s stock worth $4,042,000 after purchasing an additional 183 shares during the last quarter. Nordea Investment Management AB lifted its stake in Ryder System by 3.8% during the first quarter. Nordea Investment Management AB now owns 67,335 shares of the transportation company’s stock worth $4,173,000 after purchasing an additional 2,434 shares in the last quarter. Rothschild & Co. Asset Management US Inc. lifted its stake in Ryder System by 3.8% during the first quarter. Rothschild & Co. Asset Management US Inc. now owns 309,203 shares of the transportation company’s stock worth $19,167,000 after purchasing an additional 11,386 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Ryder System during the first quarter worth $510,000. Finally, Allstate Corp acquired a new position in Ryder System during the first quarter worth $207,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Ryder System Company Profile
Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.
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