Ryder System (R) Upgraded to “Buy” by Zacks Investment Research
Ryder System (NYSE:R) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $100.00 price objective on the transportation company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.97% from the company’s current price.
According to Zacks, “Shares of Ryder have outperformed the industry it belongs to in the last six months. The stock gained 22.8%, while the industry appreciated 14.8%. We are encouraged by the company's efforts to reward its shareholders through dividend payments. In 2017, Ryder System hiked its quarterly cash dividend by 2 cents to 46 cents per share. The company's efforts to grow its lease fleet pleases us. Its strong customer base is also a positive. Moreover, the Zacks Consensus Estimate for fourth-quarter has been revised upward 3.1% in the last 90 days. Detailed results will be out on Feb 16. However, a weak rental demand and high operating expenses may hurt the company's fourth-quarter results.”
Other research analysts have also recently issued research reports about the stock. Robert W. Baird reiterated an “outperform” rating and set a $98.00 price objective (up previously from $84.00) on shares of Ryder System in a research report on Monday, October 2nd. ValuEngine cut shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Aegis reiterated a “buy” rating and set a $91.00 price objective (up previously from $84.00) on shares of Ryder System in a research report on Tuesday, October 10th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Buckingham Research boosted their price objective 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ryder System currently has a consensus rating of “Buy” and an average target price of $86.14.
Ryder System (NYSE:R) opened at $88.52 on Monday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.96 and a current ratio of 1.02. Ryder System has a 1 year low of $62.52 and a 1 year high of $90.02. The firm has a market cap of $4,755.76, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.09 and a beta of 1.52.
Ryder System (NYSE:R) last posted its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. equities research analysts expect that Ryder System will post 4.51 EPS for the current fiscal year.
Ryder System announced that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that authorizes the company to buyback 1,500,000 shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, EVP Robert D. Fatovic sold 17,755 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $82.44, for a total transaction of $1,463,722.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dennis C. Cooke sold 32,328 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total transaction of $2,633,438.88. The disclosure for this sale can be found here. Insiders have sold 63,633 shares of company stock valued at $5,174,795 over the last three months. Insiders own 1.95% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC purchased a new stake in Ryder System in the second quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ryder System by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock valued at $141,000 after buying an additional 156 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of Ryder System by 94.7% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock valued at $183,000 after buying an additional 1,240 shares during the last quarter. King Luther Capital Management Corp purchased a new stake in shares of Ryder System during the third quarter valued at about $221,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Ryder System during the third quarter valued at about $231,000. 89.35% of the stock is owned by institutional investors.
Ryder System Company Profile
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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