Ryder System Target of Unusually Large Options Trading (R)

Ryder System, Inc. (NYSE:R) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 2,638 put options on the stock. This is an increase of approximately 1,105% compared to the average daily volume of 219 put options.

Shares of Ryder System (NYSE:R) traded up $1.05 during mid-day trading on Wednesday, reaching $84.49. 342,049 shares of the company traded hands, compared to its average volume of 478,360. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 2.39. Ryder System has a 12 month low of $62.52 and a 12 month high of $90.26. The stock has a market capitalization of $4,470.00, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41.

Ryder System declared that its board has initiated a stock buyback program on Thursday, December 14th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Tuesday, February 20th will be issued a $0.52 dividend. This is a positive change from Ryder System’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Friday, February 16th. Ryder System’s payout ratio is currently 49.60%.

Several brokerages recently issued reports on R. Zacks Investment Research raised shares of Ryder System from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, October 31st. Stifel Nicolaus reissued a “hold” rating and set a $86.00 price objective on shares of Ryder System in a report on Thursday, January 18th. ValuEngine lowered shares of Ryder System from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Buckingham Research lifted their price objective on shares of Ryder System from $92.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ryder System currently has a consensus rating of “Buy” and an average price target of $88.71.

In related news, EVP John J. Gleason sold 8,760 shares of Ryder System stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $78.30, for a total transaction of $685,908.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert D. Fatovic sold 17,755 shares of Ryder System stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $82.44, for a total transaction of $1,463,722.20. The disclosure for this sale can be found here. Insiders own 1.95% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in R. Bessemer Group Inc. grew its holdings in Ryder System by 369.7% in the fourth quarter. Bessemer Group Inc. now owns 1,832 shares of the transportation company’s stock worth $154,000 after purchasing an additional 1,442 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in Ryder System in the fourth quarter worth $204,000. Alambic Investment Management L.P. purchased a new position in Ryder System in the fourth quarter worth $210,000. Loews Corp purchased a new position in Ryder System in the fourth quarter worth $210,000. Finally, King Luther Capital Management Corp purchased a new position in Ryder System in the third quarter worth $221,000. 88.46% of the stock is currently owned by institutional investors and hedge funds.

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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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