Ryder System, Inc. (R) Lifted to Buy at Zacks Investment Research
Ryder System, Inc. (NYSE:R) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $92.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.00% from the company’s previous close.
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. Growth was witnessed across all the segments. Ryder has been making efforts to grow its lease fleet. Its efforts to reward shareholders are also encouraging. The company has been paying dividends for more than 40 years. In 2016, Ryder hiked its quarterly cash dividend by 7.3% to 44 cents per share. 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.”
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Ryder System from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Buckingham Research boosted their price objective on Ryder System from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Aegis restated a “buy” rating and set a $91.00 price objective (up previously from $84.00) on shares of Ryder System in a research report on Tuesday, October 10th. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $68.00 price objective on shares of Ryder System in a research report on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ryder System has an average rating of “Buy” and a consensus price target of $85.00.
Shares of Ryder System (NYSE:R) traded down 1.01% on Tuesday, hitting $81.31. 392,536 shares of the stock traded hands. Ryder System has a 12 month low of $62.52 and a 12 month high of $85.50. The firm’s 50 day moving average is $82.17 and its 200-day moving average is $73.84. The company has a market cap of $4.31 billion, a PE ratio of 19.58 and a beta of 1.40.
Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. Ryder System had a return on equity of 10.72% and a net margin of 2.75%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 EPS. Equities analysts predict that Ryder System will post $4.51 earnings per share for the current year.
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 value of $1,903,098.25. Following the completion of the sale, the chief executive officer now owns 107,237 shares in the company, valued at $7,767,175.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.
Several institutional investors have recently made changes to their positions in the company. ARP Americas LLC raised its position in shares of Ryder System by 61.1% during the third quarter. ARP Americas LLC now owns 4,747 shares of the transportation company’s stock worth $401,000 after purchasing an additional 1,800 shares during the period. Canada Pension Plan Investment Board raised its position in Ryder System by 59.6% during the third quarter. Canada Pension Plan Investment Board now owns 255,388 shares of the transportation company’s stock valued at $21,593,000 after buying an additional 95,400 shares during the period. Copeland Capital Management LLC raised its position in Ryder System by 1.4% during the third quarter. Copeland Capital Management LLC now owns 220,408 shares of the transportation company’s stock valued at $18,635,000 after buying an additional 3,140 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Ryder System during the third quarter valued at $671,000. Finally, Aperio Group LLC raised its position in Ryder System by 14.0% during the third quarter. Aperio Group LLC now owns 68,876 shares of the transportation company’s stock valued at $5,823,000 after buying an additional 8,471 shares during the period. 89.64% of the stock is currently owned by institutional investors.
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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