Ryder System (NYSE:R) Price Target Raised to $318.00

Ryder System (NYSE:R) had its price target boosted by Susquehanna from $280.00 to $318.00 in a research report report published on Tuesday,Benzinga reports. They currently have a positive rating on the transportation company’s stock.

Several other brokerages also recently issued reports on R. Robert W. Baird downgraded shares of Ryder System from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $245.00 in a report on Tuesday, September 29th. JPMorgan Chase & Co. raised their price objective on shares of Ryder System from $298.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Morgan Stanley raised shares of Ryder System from an “overweight” rating to a “buy” rating in a research note on Monday, October 5th. Citizens Jmp started coverage on Ryder System in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Finally, Citigroup reaffirmed a “market perform” rating on shares of Ryder System in a research note on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.67.

Ryder System Trading Up 1.8%

Shares of R stock opened at $280.59 on Tuesday. The stock has a market cap of $10.72 billion, a P/E ratio of 21.39 and a beta of 1.05. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.86. Ryder System has a fifty-two week low of $161.41 and a fifty-two week high of $287.00. The business has a fifty day simple moving average of $244.31 and a 200-day simple moving average of $236.72.

Ryder System (NYSE:R) last released its quarterly earnings data on Thursday, October 22nd. The transportation company reported $4.33 EPS for the quarter, topping the consensus estimate of $4.15 by $0.18. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.38 billion. Ryder System had a net margin of 3.98% and a return on equity of 19.14%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.57 EPS. On average, analysts forecast that Ryder System will post 15.07 earnings per share for the current fiscal year.

Ryder System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 23rd will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 23rd. Ryder System’s dividend payout ratio is currently 30.79%.

Insider Activity

In other news, insider Robert Sanchez sold 1,653 shares of the firm’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $280.01, for a total transaction of $462,856.53. Following the sale, the insider owned 40,828 shares in the company, valued at $11,432,248.28. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 34,614 shares of company stock worth $9,749,529 in the last 90 days. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryder System

Several large investors have recently added to or reduced their stakes in R. BlackRock Inc. purchased a new stake in Ryder System during the second quarter worth approximately $1,060,749,000. Dimensional Fund Advisors LP increased its position in shares of Ryder System by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,621,947 shares of the transportation company’s stock worth $331,996,000 after acquiring an additional 6,652 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Ryder System in the second quarter worth $207,689,000. First Trust Advisors LP raised its stake in shares of Ryder System by 81.5% in the 1st quarter. First Trust Advisors LP now owns 1,010,320 shares of the transportation company’s stock valued at $206,822,000 after acquiring an additional 453,697 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Ryder System in the 2nd quarter valued at $136,320,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Ryder System

Here are the key news stories impacting Ryder System this week:

• Positive Sentiment: Analyst price-target increase: Susquehanna raised its price target for Ryder from $280 to $318 while maintaining a positive rating. The revision signals additional potential upside based on the company’s earnings momentum and business outlook. Susquehanna raises Ryder price target
• Positive Sentiment: Strong quarterly performance: Ryder’s latest results exceeded expectations, with EPS of $4.33 versus the $4.15 consensus estimate and revenue of $3.43 billion versus the $3.38 billion forecast. Revenue increased 8.3% year over year, and the company raised its full-year outlook, supported by logistics demand. Ryder earnings and outlook
• Positive Sentiment: Facility expansion: Ryder is adding 11,700 square feet to its Roseville, Michigan, truck rental and maintenance facility to increase service capacity in the Metro Detroit market. The investment may support future fleet-management and rental growth. Ryder expands Roseville facility
• Neutral Sentiment: Dividend support: Ryder declared a quarterly dividend of $1.01 per share, equivalent to $4.04 annually and a yield of approximately 1.5%. The payout provides shareholder income, although it is unlikely to be the primary near-term trading catalyst.
• Neutral Sentiment: Valuation may limit upside: A recent analysis described Ryder as a high-quality company but cautioned that the stock may now be too expensive to chase after its strong advance. Ryder valuation analysis
• Negative Sentiment: Large insider sales: Insider Robert Sanchez sold 34,614 shares from October 26 through October 28 for approximately $9.75 million, substantially reducing his position. Although insider sales can reflect personal or planned financial decisions, the size and timing may weigh on sentiment. Ryder insider share sales

Ryder System Company Profile

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.