Ryder System, Inc. (R) Research Coverage Started at Buckingham Research
Investment analysts at Buckingham Research initiated coverage on shares of Ryder System, Inc. (NYSE:R) in a research report issued on Monday. The brokerage set a “buy” rating and a $85.00 price target on the transportation company’s stock. Buckingham Research’s price target points to a potential upside of 18.15% from the company’s previous close.
Other analysts also recently issued research reports about the company. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. BidaskClub upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Ryder System from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Stephens downgraded Ryder System from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $81.00 to $71.00 in a research report on Wednesday, April 26th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $78.33.
Ryder System (NYSE:R) opened at 71.94 on Monday. The stock has a 50 day moving average price of $72.96 and a 200 day moving average price of $72.07. The firm has a market cap of $3.81 billion, a P/E ratio of 17.32 and a beta of 1.39. Ryder System has a 1-year low of $62.03 and a 1-year high of $85.42.
Ryder System (NYSE:R) last released its earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.07. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. Ryder System had a return on equity of 11.71% and a net margin of 3.17%. Ryder System’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. On average, analysts anticipate that Ryder System will post $4.44 EPS for the current year.
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In other news, insider Dennis C. Cooke sold 9,650 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $72.75, for a total transaction of $702,037.50. Following the transaction, the insider now directly owns 2,883 shares of the company’s stock, valued at $209,738.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert E. Sanchez sold 26,275 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.43, for a total value of $1,903,098.25. Following the transaction, the chief executive officer now directly owns 107,237 shares in the company, valued at $7,767,175.91. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. Banced Corp boosted its position in Ryder System by 18.9% in the fourth quarter. Banced Corp now owns 6,196 shares of the transportation company’s stock valued at $352,000 after buying an additional 985 shares during the period. Quotient Investors purchased a new stake in shares of Ryder System during the fourth quarter valued at $2,992,000. Capstone Asset Management Company boosted its stake in shares of Ryder System by 136.8% in the fourth quarter. Capstone Asset Management Company now owns 19,267 shares of the transportation company’s stock valued at $1,095,000 after buying an additional 11,130 shares during the last quarter. BB&T Securities boosted its stake in shares of Ryder System by 3.2% in the fourth quarter. BB&T Securities now owns 28,974 shares of the transportation company’s stock valued at $1,646,000 after buying an additional 889 shares during the last quarter. Finally, Chevy Chase Trust Holdings boosted its stake in shares of Ryder System by 0.8% in the fourth quarter. Chevy Chase Trust Holdings now owns 43,161 shares of the transportation company’s stock valued at $2,453,000 after buying an additional 329 shares during the last quarter. 93.05% of the stock is currently owned by hedge funds and other institutional investors.
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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