Buckingham Research initiated coverage on shares of Ryder System, Inc. (NYSE:R) in a report released on Monday. The firm issued a buy rating and a $85.00 price objective on the transportation company’s stock.
Several other brokerages also recently issued reports on R. Stephens downgraded Ryder System from an overweight rating to an equal weight rating and cut their price target for the company from $81.00 to $71.00 in a report on Wednesday, April 26th. Zacks Investment Research raised Ryder System from a sell rating to a hold rating in a report on Tuesday, June 27th. BidaskClub downgraded Ryder System from a buy rating to a hold rating in a report on Sunday, July 30th. Finally, ValuEngine raised Ryder System from a hold rating to a buy rating in a report on Tuesday, June 27th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $78.33.
Ryder System (R) opened at 71.97 on Monday. The company’s 50-day moving average is $72.96 and its 200-day moving average is $71.99. Ryder System has a 12 month low of $62.03 and a 12 month high of $85.42. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 17.33 and a beta of 1.39.
Ryder System (NYSE:R) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.07. Ryder System had a return on equity of 11.71% and a net margin of 3.17%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $1.56 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Ryder System will post $4.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, August 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Ryder System’s previous quarterly dividend of $0.44. Ryder System’s dividend payout ratio (DPR) is currently 44.12%.
In related news, CEO Robert E. Sanchez sold 26,275 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $72.43, for a total value of $1,903,098.25. Following the transaction, the chief executive officer now owns 107,237 shares in the company, valued at $7,767,175.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis C. Cooke sold 9,650 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $72.75, for a total value of $702,037.50. Following the completion of the transaction, the insider now owns 2,883 shares in the company, valued at approximately $209,738.25. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of R. Bank of Nova Scotia bought a new position in shares of Ryder System during the first quarter worth approximately $830,000. Prudential Financial Inc. boosted its position in shares of Ryder System by 3.6% in the first quarter. Prudential Financial Inc. now owns 229,255 shares of the transportation company’s stock worth $17,295,000 after buying an additional 8,000 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Ryder System by 155.2% in the second quarter. Canada Pension Plan Investment Board now owns 159,988 shares of the transportation company’s stock worth $11,516,000 after buying an additional 97,300 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Ryder System by 1.0% in the first quarter. Mason Street Advisors LLC now owns 7,389 shares of the transportation company’s stock worth $557,000 after buying an additional 75 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ryder System by 11.4% in the first quarter. Geode Capital Management LLC now owns 551,479 shares of the transportation company’s stock worth $41,559,000 after buying an additional 56,642 shares during the last quarter. Institutional investors own 93.05% 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.
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