Ryder System (NYSE:R) Reaches New 1-Year High on Analyst Upgrade

Ryder System, Inc. (NYSE:R) reached a new 52-week high during trading on Monday after Robert W. Baird raised their price target on the stock from $140.00 to $155.00. Robert W. Baird currently has an outperform rating on the stock. Ryder System traded as high as $136.82 and last traded at $135.18, with a volume of 50513 shares changing hands. The stock had previously closed at $132.17.

R has been the subject of a number of other reports. The Goldman Sachs Group raised their price target on Ryder System from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Vertical Research raised shares of Ryder System from a “hold” rating to a “buy” rating and upped their target price for the stock from $125.00 to $145.00 in a report on Friday, June 14th. StockNews.com lowered shares of Ryder System from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th. Stephens began coverage on shares of Ryder System in a report on Monday, July 8th. They issued an “equal weight” rating on the stock. Finally, Morgan Stanley started coverage on shares of Ryder System in a research report on Monday, June 24th. They set an “overweight” rating and a $165.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ryder System currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Insider Buying and Selling

In other Ryder System news, CMO Karen M. Jones sold 6,776 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total value of $816,101.44. Following the completion of the sale, the chief marketing officer now owns 5,666 shares in the company, valued at $682,413.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ryder System news, SVP Sanford J. Hodes sold 3,360 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.59, for a total value of $421,982.40. Following the completion of the transaction, the senior vice president now owns 24,119 shares in the company, valued at $3,029,105.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Karen M. Jones sold 6,776 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $120.44, for a total value of $816,101.44. Following the transaction, the chief marketing officer now directly owns 5,666 shares of the company’s stock, valued at approximately $682,413.04. The disclosure for this sale can be found here. Insiders have sold a total of 84,129 shares of company stock worth $10,598,226 in the last ninety days. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryder System

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its stake in Ryder System by 48.5% during the 4th quarter. Raymond James & Associates now owns 20,700 shares of the transportation company’s stock valued at $2,382,000 after acquiring an additional 6,757 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Ryder System by 5.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,260 shares of the transportation company’s stock worth $490,000 after buying an additional 231 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Ryder System by 62.8% in the fourth quarter. Pacer Advisors Inc. now owns 7,929 shares of the transportation company’s stock worth $912,000 after acquiring an additional 3,060 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Ryder System during the fourth quarter valued at $2,349,000. Finally, Blue Trust Inc. lifted its holdings in Ryder System by 37.7% in the fourth quarter. Blue Trust Inc. now owns 2,527 shares of the transportation company’s stock valued at $270,000 after acquiring an additional 692 shares during the period. 87.47% of the stock is owned by institutional investors.

Ryder System Trading Up 2.3 %

The firm has a market capitalization of $5.92 billion, a P/E ratio of 17.69 and a beta of 1.29. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.09. The stock has a 50 day simple moving average of $123.82 and a 200-day simple moving average of $119.00.

Ryder System (NYSE:R) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.13. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.24 billion. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $3.61 earnings per share. On average, equities research analysts forecast that Ryder System, Inc. will post 12.4 EPS for the current fiscal year.

Ryder System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.81 per share. This is a boost from Ryder System’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.40%. Ryder System’s dividend payout ratio (DPR) is presently 42.19%.

Ryder System Company Profile

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.