Ryder System, Inc. (R) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Ryder System, Inc. (NYSE:R) from a buy rating to a hold rating in a research note released on Monday morning.
According to Zacks, “Shares of Ryder have outperformed the industry it belongs to in the last six months. Ushering in further good news the company reported better-than-expected earnings per share and revenues in the third quarter of 2017. The top line also grew on a year-over-year basis. Ryder has been making efforts to grow its lease fleet. Its efforts to reward shareholders are also encouraging. Also, its strong customer base augurs well. However, earnings declined significantly on a year-over-year basis in the third quarter. Weak rental demand hurt results. Moreover softness pertaining to commercial rental demand are hurting overall results. The company expects fourth-quarter adjusted earnings per share in the band of $1.31 to $1.41. This is way below the fourth quarter 2016 figure. Moreover, Ryder is a highly leveraged company.”
R has been the topic of several other research reports. BidaskClub cut shares of Ryder System from a buy rating to a hold rating in a research report on Sunday, July 30th. J P Morgan Chase & Co raised their price target on shares of Ryder System from $69.00 to $82.00 and gave the company a neutral rating in a research report on Thursday, October 12th. Buckingham Research raised their price target on shares of Ryder System from $92.00 to $93.00 and gave the company a buy rating in a research report on Wednesday, October 25th. ValuEngine raised shares of Ryder System from a hold rating to a buy rating in a research report on Friday, September 1st. Finally, Aegis reaffirmed a buy rating and issued a $91.00 price target (up previously from $84.00) on shares of Ryder System in a research report on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $85.00.
Shares of Ryder System (R) traded down 1.29% during mid-day trading on Monday, hitting $81.08. The stock had a trading volume of 1,065,937 shares. The firm’s 50 day moving average price is $82.17 and its 200 day moving average price is $73.84. Ryder System has a 1-year low of $62.52 and a 1-year high of $85.50. The company has a market cap of $4.30 billion, a P/E ratio of 19.52 and a beta of 1.40.
Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.04. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 EPS. Analysts predict that Ryder System will post $4.51 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 20th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.27%. Ryder System’s dividend payout ratio is currently 49.86%.
In other news, CEO Robert E. Sanchez sold 26,275 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.43, for a total transaction of $1,903,098.25. Following the completion of the sale, the chief executive officer now owns 107,237 shares in the company, valued at approximately $7,767,175.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John S. Sensing sold 4,502 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $73.01, for a total transaction of $328,691.02. The disclosure for this sale can be found here. 1.95% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. ARP Americas LLC increased its stake in shares of Ryder System by 61.1% during the 3rd quarter. ARP Americas LLC now owns 4,747 shares of the transportation company’s stock worth $401,000 after purchasing an additional 1,800 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Ryder System by 59.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 255,388 shares of the transportation company’s stock valued at $21,593,000 after buying an additional 95,400 shares in the last quarter. Copeland Capital Management LLC grew its stake in Ryder System by 1.4% in the 3rd quarter. Copeland Capital Management LLC now owns 220,408 shares of the transportation company’s stock valued at $18,635,000 after buying an additional 3,140 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Ryder System in the 3rd quarter valued at approximately $671,000. Finally, Aperio Group LLC grew 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. Institutional investors own 89.64% 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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