Ryder System, Inc. (R) Receives “Outperform” Rating from Robert W. Baird
Ryder System, Inc. (NYSE:R)‘s stock had its “outperform” rating reaffirmed by equities researchers at Robert W. Baird in a report issued on Monday. They presently have a $98.00 price target on the transportation company’s stock, up from their prior price target of $84.00. Robert W. Baird’s price target would indicate a potential upside of 15.44% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a report on Friday, September 1st. KeyCorp raised Ryder System from a “sector weight” rating to an “overweight” rating in a research report on Wednesday, September 13th. BidaskClub upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Ryder System from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Tuesday, September 26th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $68.00 price objective on shares of Ryder System in a report on Tuesday, September 5th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $79.50.
Shares of Ryder System (NYSE:R) traded down 0.225% during trading on Monday, reaching $84.699. The company had a trading volume of 199,636 shares. Ryder System has a 52 week low of $62.03 and a 52 week high of $85.50. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 20.395 and a beta of 1.40. The firm has a 50-day moving average of $78.25 and a 200 day moving average of $72.68.
Ryder System (NYSE:R) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.07. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $1.56 EPS. Ryder System’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Ryder System will post $4.45 earnings per share for the current year.
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In other news, insider Dennis C. Cooke sold 9,650 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.75, for a total value of $702,037.50. Following the completion of the transaction, the insider now directly owns 2,883 shares in the company, valued at $209,738.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert E. Sanchez sold 26,275 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 107,237 shares of the company’s stock, valued at $7,767,175.91. The disclosure for this sale can be found here. Insiders sold 40,427 shares of company stock worth $2,933,827 over the last three months. 1.95% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia purchased a new position in Ryder System in the first quarter valued at about $830,000. Prudential Financial Inc. grew its stake in Ryder System by 3.6% during the 1st quarter. Prudential Financial Inc. now owns 229,255 shares of the transportation company’s stock valued at $17,295,000 after purchasing an additional 8,000 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Ryder System by 155.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 159,988 shares of the transportation company’s stock valued at $11,516,000 after purchasing an additional 97,300 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ryder System by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 820,490 shares of the transportation company’s stock valued at $59,058,000 after purchasing an additional 51,763 shares in the last quarter. Finally, Mason Street Advisors LLC grew its stake in Ryder System by 1.0% during the 1st quarter. Mason Street Advisors LLC now owns 7,389 shares of the transportation company’s stock valued at $557,000 after purchasing an additional 75 shares in the last quarter. 89.54% of the stock is owned by institutional investors and hedge funds.
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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