Ryder System, Inc. (R) Cut to Hold at Zacks Investment Research
Ryder System, Inc. (NYSE:R) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Shares of Ryder have outperformed the industry it belongs to in the last six months. Ushering in further good news the company reported better-than-expected earnings per share and revenues in the third quarter of 2017. The top line also grew on a year-over-year basis. Ryder has been making efforts to grow its lease fleet. Its efforts to reward shareholders are also encouraging. Also, its strong customer base augurs well. However, earnings declined significantly on a year-over-year basis in the third quarter. Weak rental demand hurt results. Moreover softness pertaining to commercial rental demand are hurting overall results. The company expects fourth-quarter adjusted earnings per share in the band of $1.31 to $1.41. This is way below the fourth quarter 2016 figure. Moreover, Ryder is a highly leveraged company.”
Other research analysts also recently issued reports about the company. BidaskClub downgraded Ryder System from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Buckingham Research lifted their target price on Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Aegis reiterated a “buy” rating and set a $91.00 target price (up from $84.00) on shares of Ryder System in a research note on Tuesday, October 10th. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $68.00 target price on shares of Ryder System in a research note on Tuesday, September 5th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $85.00.
Shares of Ryder System (NYSE R) traded down 2.28% during midday trading on Monday, reaching $82.35. The company’s stock had a trading volume of 166,788 shares. The company has a 50-day moving average price of $82.08 and a 200-day moving average price of $73.81. Ryder System has a 12 month low of $62.52 and a 12 month high of $85.50. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 19.83 and a beta of 1.40.
Ryder System (NYSE:R) last issued its earnings results on Tuesday, October 24th. The transportation company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. Ryder System had a return on equity of 10.72% and a net margin of 2.75%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Ryder System will post $4.51 earnings per share for the current year.
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In other news, CEO Robert E. Sanchez sold 26,275 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $72.43, for a total transaction of $1,903,098.25. Following the completion of the sale, the chief executive officer now directly owns 107,237 shares in the company, valued at approximately $7,767,175.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John S. Sensing sold 4,502 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $73.01, for a total value of $328,691.02. The disclosure for this sale can be found here. Corporate insiders own 1.95% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC acquired a new position in shares of Ryder System during the 2nd quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ryder System by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock worth $141,000 after buying an additional 156 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Ryder System by 1.1% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,160 shares of the transportation company’s stock worth $156,000 after buying an additional 24 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Ryder System by 94.7% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock worth $183,000 after buying an additional 1,240 shares in the last quarter. Finally, Clear Investment Research LLC acquired a new position in shares of Ryder System during the 2nd quarter worth $190,000. Hedge funds and other institutional investors own 89.64% 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.
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