Ryder System, Inc. (R) Cut to “Buy” at BidaskClub

BidaskClub downgraded shares of Ryder System, Inc. (NYSE:R) from a strong-buy rating to a buy rating in a research report released on Monday.

A number of other brokerages have also commented on R. Stephens lowered Ryder System from an overweight rating to an equal weight rating and cut their target price for the company from $81.00 to $71.00 in a research note on Wednesday, April 26th. Zacks Investment Research lowered Ryder System from a hold rating to a strong sell rating in a research note on Friday, April 28th. ValuEngine upgraded Ryder System from a hold rating to a buy rating in a research note on Tuesday, June 27th. Finally, Seaport Global Securities began coverage on Ryder System in a research note on Friday, April 21st. They issued a neutral rating for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $77.00.

Ryder System (R) traded down 3.32% during trading on Monday, reaching $73.92. 347,512 shares of the company’s stock were exchanged. Ryder System has a 52-week low of $62.03 and a 52-week high of $85.42. The stock’s 50-day moving average price is $70.70 and its 200-day moving average price is $72.45. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 16.18 and a beta of 1.39.

Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.07. Ryder System had a return on equity of 13.27% and a net margin of 3.55%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company earned $1.56 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Ryder System will post $4.37 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 21st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from Ryder System’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, August 17th. Ryder System’s dividend payout ratio is presently 38.34%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Ryder System by 5.7% in the first quarter. Russell Investments Group Ltd. now owns 87,402 shares of the transportation company’s stock valued at $6,594,000 after buying an additional 4,679 shares in the last quarter. ProShare Advisors LLC raised its position in Ryder System by 13.0% in the first quarter. ProShare Advisors LLC now owns 27,831 shares of the transportation company’s stock valued at $2,100,000 after buying an additional 3,194 shares in the last quarter. Retirement Systems of Alabama raised its position in Ryder System by 2.0% in the first quarter. Retirement Systems of Alabama now owns 25,845 shares of the transportation company’s stock valued at $1,950,000 after buying an additional 504 shares in the last quarter. Oakbrook Investments LLC raised its position in Ryder System by 81.9% in the first quarter. Oakbrook Investments LLC now owns 5,110 shares of the transportation company’s stock valued at $385,000 after buying an additional 2,300 shares in the last quarter. Finally, Boston Advisors LLC bought a new position in Ryder System during the first quarter valued at about $224,000. Institutional investors and hedge funds own 93.24% 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.