Ryder System (NYSE:R)‘s stock had its “overweight” rating reaffirmed by investment analysts at KeyCorp in a research report issued to clients and investors on Tuesday, February 20th. They currently have a $95.00 price target on the transportation company’s stock, down from their prior price target of $100.00. KeyCorp’s price objective indicates a potential upside of 26.73% from the company’s current price. KeyCorp also issued estimates for Ryder System’s Q1 2018 earnings at $0.90 EPS, Q2 2018 earnings at $1.43 EPS, Q3 2018 earnings at $1.59 EPS, Q4 2018 earnings at $1.73 EPS, FY2018 earnings at $5.65 EPS and FY2019 earnings at $6.75 EPS.
A number of other equities research analysts have also recently weighed in on the company. Buckingham Research upped their price target on Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. ValuEngine cut Ryder System from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Zacks Investment Research upgraded Ryder System from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, January 15th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $86.00 price target on shares of Ryder System in a report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $88.00.
Ryder System (R) traded down $1.18 during midday trading on Tuesday, reaching $74.96. The company’s stock had a trading volume of 466,511 shares, compared to its average volume of 590,300. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.66 and a quick ratio of 0.62. Ryder System has a 52 week low of $62.52 and a 52 week high of $90.26. The firm has a market cap of $4,020.00, a PE ratio of 23.35, a price-to-earnings-growth ratio of 0.91 and a beta of 1.52.
Ryder System announced that its board has initiated a share repurchase plan on Thursday, December 14th that authorizes the company to repurchase 1,500,000 outstanding shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
A number of hedge funds have recently bought and sold shares of R. The Manufacturers Life Insurance Company lifted its stake in Ryder System by 24.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,298 shares of the transportation company’s stock valued at $6,284,000 after buying an additional 17,406 shares in the last quarter. Shell Asset Management Co. lifted its stake in Ryder System by 509.3% in the 3rd quarter. Shell Asset Management Co. now owns 36,097 shares of the transportation company’s stock valued at $3,248,000 after buying an additional 30,173 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Ryder System in the 3rd quarter valued at approximately $668,000. First Trust Advisors LP lifted its stake in Ryder System by 33.4% in the 3rd quarter. First Trust Advisors LP now owns 393,899 shares of the transportation company’s stock valued at $33,304,000 after buying an additional 98,521 shares in the last quarter. Finally, Aperio Group LLC lifted its stake in Ryder System by 14.0% in the 3rd quarter. Aperio Group LLC now owns 68,876 shares of the transportation company’s stock valued at $5,823,000 after buying an additional 8,471 shares in the last quarter. 93.38% of the stock is currently owned by hedge funds and other institutional investors.
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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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