Ryder System (NYSE:R) Given New $75.00 Price Target at KeyCorp
Ryder System (NYSE:R) had its price target trimmed by KeyCorp from $80.00 to $75.00 in a report issued on Thursday, The Fly reports. The firm currently has an overweight rating on the transportation company’s stock. KeyCorp also issued estimates for Ryder System’s Q4 2019 earnings at $1.88 EPS, FY2019 earnings at $6.10 EPS and FY2020 earnings at $6.45 EPS.
A number of other equities research analysts also recently commented on the company. Loop Capital downgraded Ryder System from a buy rating to a hold rating and lowered their price objective for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. TheStreet downgraded Urban Outfitters from a b- rating to a c+ rating in a research report on Thursday, May 30th. Zacks Investment Research downgraded Guaranty Federal Bancshares from a hold rating to a sell rating in a research report on Tuesday, April 23rd. Finally, ValuEngine raised shares of Vistra Energy from a hold rating to a buy rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $75.11.
Shares of NYSE R opened at $58.50 on Thursday. The business’s 50-day moving average is $55.57. The company has a current ratio of 0.57, a quick ratio of 0.54 and a debt-to-equity ratio of 2.35. Ryder System has a 1-year low of $44.80 and a 1-year high of $79.95. The stock has a market cap of $3.12 billion, a P/E ratio of 10.10 and a beta of 1.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 16th will be paid a $0.56 dividend. The ex-dividend date is Friday, August 16th. This is a boost from Ryder System’s previous quarterly dividend of $0.54. This represents a $2.24 dividend on an annualized basis and a yield of 3.83%. Ryder System’s dividend payout ratio (DPR) is presently 37.31%.
In other news, EVP Karen M. Jones sold 1,767 shares of Ryder System stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $52.21, for a total transaction of $92,255.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director E Follin Smith sold 1,138 shares of Ryder System stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $62.82, for a total transaction of $71,489.16. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in R. Norges Bank bought a new position in shares of Ryder System during the fourth quarter worth $35,495,000. FMR LLC boosted its position in shares of Ryder System by 574.2% during the first quarter. FMR LLC now owns 583,279 shares of the transportation company’s stock worth $36,157,000 after purchasing an additional 496,769 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Ryder System by 84.1% during the first quarter. Deprince Race & Zollo Inc. now owns 852,176 shares of the transportation company’s stock worth $52,826,000 after purchasing an additional 389,263 shares in the last quarter. Millennium Management LLC boosted its position in shares of Ryder System by 129.0% during the fourth quarter. Millennium Management LLC now owns 274,721 shares of the transportation company’s stock worth $13,228,000 after purchasing an additional 154,744 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Ryder System by 50.6% during the fourth quarter. Bank of America Corp DE now owns 456,444 shares of the transportation company’s stock worth $21,977,000 after purchasing an additional 153,271 shares in the last quarter. 87.93% of the stock is currently owned by 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 fleet support services.
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