Ryder System (NYSE:R) declared that its Board of Directors has authorized a share buyback plan, which authorizes the company to repurchase 1,500,000 outstanding shares on Thursday, December 14th, EventVestor reports. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

A number of research analysts recently weighed in on R shares. Buckingham Research raised their price objective on Ryder System from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. ValuEngine downgraded Ryder System from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Zacks Investment Research raised Ryder System from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Tuesday, October 31st. Aegis reaffirmed a “buy” rating and issued a $91.00 target price (up previously from $84.00) on shares of Ryder System in a report on Tuesday, October 10th. Finally, J P Morgan Chase & Co raised their target price on Ryder System from $69.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $85.00.

Shares of Ryder System (NYSE:R) opened at $81.56 on Friday. The stock has a market capitalization of $4,342.77, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.39. Ryder System has a fifty-two week low of $62.52 and a fifty-two week high of $85.50.

Ryder System (NYSE:R) last released its earnings results on Tuesday, October 24th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. Ryder System had a return on equity of 10.72% and a net margin of 2.75%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 EPS. equities research analysts forecast that Ryder System will post 4.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Monday, November 20th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, November 17th. Ryder System’s dividend payout ratio (DPR) is currently 49.86%.

In other news, EVP John J. Gleason sold 8,760 shares of Ryder System stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $78.30, for a total transaction of $685,908.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert D. Fatovic sold 17,755 shares of Ryder System stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $82.44, for a total value of $1,463,722.20. The disclosure for this sale can be found here. Insiders sold a total of 63,633 shares of company stock worth $5,174,795 in the last ninety days. Insiders own 1.95% of the company’s stock.

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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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