Ryder System, Inc. $R Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its stake in shares of Ryder System, Inc. (NYSE:R) by 86.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,954 shares of the transportation company’s stock after selling 18,460 shares during the quarter. QRG Capital Management Inc.’s holdings in Ryder System were worth $557,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in R. Evergreen Capital Management LLC purchased a new stake in shares of Ryder System in the 3rd quarter valued at approximately $251,000. Ritholtz Wealth Management increased its holdings in Ryder System by 57.0% in the 3rd quarter. Ritholtz Wealth Management now owns 5,370 shares of the transportation company’s stock valued at $1,013,000 after purchasing an additional 1,949 shares during the last quarter. Retirement Planning Group LLC purchased a new stake in Ryder System in the third quarter valued at approximately $262,000. Quent Capital LLC acquired a new position in Ryder System during the third quarter worth $133,000. Finally, MGO One Seven LLC acquired a new position in Ryder System during the third quarter worth $224,000. 87.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Ryder System from $194.00 to $197.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Wells Fargo & Company began coverage on Ryder System in a research report on Friday, December 5th. They issued an “overweight” rating and a $210.00 target price for the company. Citigroup boosted their price target on shares of Ryder System from $196.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Morgan Stanley raised their price objective on shares of Ryder System from $190.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Finally, Barclays lifted their price objective on shares of Ryder System from $190.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.67.

Ryder System Stock Performance

Shares of R opened at $196.17 on Friday. Ryder System, Inc. has a 1 year low of $125.54 and a 1 year high of $200.53. The stock has a market capitalization of $7.92 billion, a PE ratio of 16.57 and a beta of 0.96. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day simple moving average of $185.62 and a 200-day simple moving average of $181.61.

Ryder System (NYSE:R) last released its earnings results on Thursday, October 23rd. The transportation company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.56 by $0.01. Ryder System had a net margin of 3.96% and a return on equity of 17.69%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the firm earned $3.44 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts predict that Ryder System, Inc. will post 13.68 earnings per share for the current fiscal year.

About Ryder System

Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company’s Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.

Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.