Buckingham Research reissued their buy rating on shares of Ryder System (NYSE:R) in a research report released on Tuesday, February 20th. The brokerage currently has a $90.00 price target on the transportation company’s stock, down from their previous price target of $101.00.
Several other research analysts have also recently weighed in on the company. ValuEngine cut Ryder System from a buy rating to a hold rating in a research report on Friday, November 10th. Zacks Investment Research raised Ryder System from a hold rating to a buy rating and set a $100.00 price objective on the stock in a report on Monday, January 15th. Stifel Nicolaus reaffirmed a hold rating and issued a $86.00 price target on shares of Ryder System in a research note on Thursday, January 18th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $73.00 price target (down from $94.00) on shares of Ryder System in a research note on Tuesday, February 20th. Finally, KeyCorp reiterated an overweight rating and set a $95.00 price objective (down previously from $100.00) on shares of Ryder System in a research report on Tuesday, February 20th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $88.00.
Ryder System (NYSE:R) traded down $1.18 on Tuesday, hitting $74.96. The stock had a trading volume of 466,511 shares, compared to its average volume of 590,300. Ryder System has a fifty-two week low of $62.52 and a fifty-two week high of $90.26. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.62. The company has a market cap of $4,020.00, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 0.91 and a beta of 1.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.52 per share. This is a boost from Ryder System’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, February 16th. Ryder System’s dividend payout ratio is currently 64.80%.
Ryder System declared that its board has initiated a stock buyback program on Thursday, December 14th that allows the company to buyback 1,500,000 shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its stake in Ryder System by 12.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,929 shares of the transportation company’s stock valued at $667,000 after acquiring an additional 898 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Ryder System during the 4th quarter valued at approximately $331,000. MetLife Investment Advisors LLC purchased a new stake in Ryder System during the 4th quarter valued at approximately $2,820,000. Vident Investment Advisory LLC raised its stake in Ryder System by 13.1% during the 4th quarter. Vident Investment Advisory LLC now owns 39,751 shares of the transportation company’s stock valued at $3,346,000 after acquiring an additional 4,613 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Ryder System by 61.6% during the 4th quarter. Jane Street Group LLC now owns 5,619 shares of the transportation company’s stock valued at $473,000 after acquiring an additional 2,142 shares during the last quarter. 93.38% of the stock is 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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