Ryder System, Inc. (R) Given New $82.00 Price Target at J P Morgan Chase & Co
Ryder System, Inc. (NYSE:R) had its target price increased by equities researchers at J P Morgan Chase & Co from $69.00 to $82.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “neutral” rating on the transportation company’s stock. J P Morgan Chase & Co’s target price indicates a potential downside of 1.70% from the company’s previous close.
Several other equities research analysts have also recently commented on R. BidaskClub raised shares of Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Robert W. Baird restated an “outperform” rating and set a $98.00 price objective (up from $84.00) on shares of Ryder System in a research note on Monday, October 2nd. ValuEngine lowered shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Aegis restated a “buy” rating and set a $91.00 price objective (up from $84.00) on shares of Ryder System in a research note on Tuesday. Finally, Buckingham Research began coverage on shares of Ryder System in a research note on Monday, August 21st. They set a “buy” rating and a $85.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ryder System has an average rating of “Buy” and a consensus price target of $83.86.
Shares of Ryder System (NYSE R) traded down 0.01% during mid-day trading on Thursday, hitting $83.41. The company had a trading volume of 29,629 shares. The company has a market capitalization of $4.42 billion, a P/E ratio of 20.08 and a beta of 1.41. The firm’s 50-day moving average price is $80.35 and its 200 day moving average price is $73.19. Ryder System has a one year low of $62.03 and a one year high of $85.50.
Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.93 by $0.07. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm posted $1.56 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that Ryder System will post $4.45 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/12/ryder-system-inc-r-given-new-82-00-price-target-at-j-p-morgan-chase-co.html.
In related news, insider John S. Sensing sold 4,502 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $73.01, for a total value of $328,691.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dennis C. Cooke sold 9,650 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $72.75, for a total transaction of $702,037.50. Following the completion of the transaction, the insider now owns 2,883 shares in the company, valued at approximately $209,738.25. The disclosure for this sale can be found here. Insiders have sold a total of 40,427 shares of company stock worth $2,933,827 over the last 90 days. 1.95% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its stake in Ryder System by 1,152.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 16,028 shares of the transportation company’s stock valued at $1,154,000 after buying an additional 14,748 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Ryder System by 9.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 25,412 shares of the transportation company’s stock valued at $1,829,000 after buying an additional 2,204 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in Ryder System by 14.3% in the 2nd quarter. Coldstream Capital Management Inc. now owns 8,709 shares of the transportation company’s stock valued at $627,000 after buying an additional 1,088 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Ryder System by 24.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,298 shares of the transportation company’s stock valued at $6,284,000 after buying an additional 17,406 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Ryder System in the 2nd quarter valued at about $11,423,000. Institutional investors and hedge funds own 89.54% of the company’s stock.
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.
Receive News & Ratings for Ryder System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryder System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.