Deutsche Bank assumed coverage on shares of Ryder System (NYSE:R) in a research note released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $88.00 target price on the transportation company’s stock.
R has been the topic of several other reports. Mizuho reiterated a buy rating and issued a $90.00 target price on shares of Ryder System in a research note on Thursday, July 26th. Stifel Nicolaus lifted their target price on Ryder System from $76.00 to $81.00 and gave the company a hold rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded Ryder System from a hold rating to a buy rating and set a $87.00 target price on the stock in a research note on Thursday, August 2nd. ValuEngine downgraded Ryder System from a hold rating to a sell rating in a research note on Wednesday, June 6th. Finally, KeyCorp lowered their target price on Ryder System from $95.00 to $90.00 and set an overweight rating on the stock in a research note on Friday, June 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Ryder System presently has a consensus rating of Hold and an average price target of $84.30.
NYSE:R opened at $76.33 on Tuesday. The company has a market cap of $4.10 billion, a P/E ratio of 15.37 and a beta of 1.46. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.84. Ryder System has a 52-week low of $65.65 and a 52-week high of $90.26.
Ryder System (NYSE:R) last released its quarterly earnings results on Wednesday, July 25th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $1.99 billion. Ryder System had a return on equity of 9.96% and a net margin of 9.99%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. research analysts expect that Ryder System will post 5.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, July 20th will be issued a $0.54 dividend. This is a boost from Ryder System’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, July 19th. Ryder System’s dividend payout ratio (DPR) is currently 47.68%.
In related news, CEO Robert E. Sanchez sold 27,830 shares of Ryder System stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $78.04, for a total transaction of $2,171,853.20. Following the completion of the transaction, the chief executive officer now directly owns 119,387 shares of the company’s stock, valued at $9,316,961.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Art A. Garcia sold 3,412 shares of Ryder System stock in a transaction on Monday, July 30th. The stock was sold at an average price of $76.82, for a total value of $262,109.84. Following the transaction, the chief financial officer now directly owns 16,201 shares of the company’s stock, valued at $1,244,560.82. The disclosure for this sale can be found here. Insiders sold a total of 57,865 shares of company stock valued at $4,502,858 over the last three months. Insiders own 2.27% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Cambridge Financial Group Inc. raised its holdings in Ryder System by 11.4% during the second quarter. Cambridge Financial Group Inc. now owns 81,556 shares of the transportation company’s stock worth $5,861,000 after purchasing an additional 8,354 shares during the last quarter. LSV Asset Management raised its holdings in Ryder System by 5.8% during the second quarter. LSV Asset Management now owns 1,889,814 shares of the transportation company’s stock worth $135,802,000 after purchasing an additional 102,980 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Ryder System by 3.9% during the second quarter. Wells Fargo & Company MN now owns 1,365,424 shares of the transportation company’s stock worth $98,119,000 after purchasing an additional 51,703 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Ryder System by 33.9% during the first quarter. Allianz Asset Management GmbH now owns 92,581 shares of the transportation company’s stock worth $6,740,000 after purchasing an additional 23,446 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Ryder System by 121.4% in the second quarter. Nisa Investment Advisors LLC now owns 14,564 shares of the transportation company’s stock worth $1,047,000 after acquiring an additional 7,985 shares during the last quarter. 88.93% of the stock is owned by hedge funds and other institutional investors.
Ryder System Company Profile
Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as ancillary maintenance and fleet support services.
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