Ryder System, Inc. (R) Downgraded by BidaskClub to Buy
Ryder System, Inc. (NYSE:R) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.
Several other research analysts have also recently issued reports on the stock. Stephens cut shares of Ryder System from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $81.00 to $71.00 in a report on Wednesday, April 26th. Zacks Investment Research raised shares of Ryder System from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine raised shares of Ryder System from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Seaport Global Securities assumed coverage on shares of Ryder System in a research note on Friday, April 21st. They set a “neutral” rating for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $77.00.
Ryder System (NYSE R) traded down 0.19% during trading on Monday, reaching $72.34. The company had a trading volume of 856,817 shares. The firm’s 50 day moving average price is $70.21 and its 200 day moving average price is $72.44. Ryder System has a 12-month low of $62.03 and a 12-month high of $85.42. The firm has a market capitalization of $3.87 billion, a PE ratio of 15.84 and a beta of 1.39.
Ryder System (NYSE:R) last issued its quarterly earnings data on Tuesday, April 25th. The transportation company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Ryder System had a net margin of 3.55% and a return on equity of 13.27%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. Analysts anticipate that Ryder System will post $4.37 earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of R. Private Advisor Group LLC purchased a new stake in Ryder System during the first quarter valued at approximately $116,000. LS Investment Advisors LLC increased its position in shares of Ryder System by 28.8% in the first quarter. LS Investment Advisors LLC now owns 2,473 shares of the transportation company’s stock worth $187,000 after buying an additional 553 shares in the last quarter. Creative Planning increased its position in shares of Ryder System by 10.0% in the second quarter. Creative Planning now owns 2,904 shares of the transportation company’s stock worth $209,000 after buying an additional 264 shares in the last quarter. Boston Advisors LLC bought a new position in shares of Ryder System during the first quarter worth about $224,000. Finally, Contravisory Investment Management Inc. increased its position in shares of Ryder System by 31.7% in the first quarter. Contravisory Investment Management Inc. now owns 3,196 shares of the transportation company’s stock worth $241,000 after buying an additional 770 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.
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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