Ryder System (NYSE:R) Raised to Peer Perform at Wolfe Research

Ryder System (NYSE:R – Get Rating) was upgraded by equities researchers at Wolfe Research from an “underperform” rating to a “peer perform” rating in a research note issued on Monday, The Fly reports.

A number of other research analysts have also weighed in on R. JPMorgan Chase & Co. dropped their target price on Ryder System from $88.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 8th. StockNews.com lowered Ryder System from a “strong-buy” rating to a “buy” rating in a report on Monday, April 4th. Wells Fargo & Company lifted their price target on Ryder System from $68.00 to $81.00 in a report on Monday. Finally, Stephens lifted their price target on Ryder System from $92.00 to $94.00 and gave the stock an “equal weight” rating in a report on Thursday, February 17th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Ryder System currently has an average rating of “Hold” and an average target price of $86.67.

Shares of NYSE:R opened at $81.60 on Monday. The business’s 50 day simple moving average is $73.43 and its two-hundred day simple moving average is $77.07. The firm has a market cap of $4.17 billion, a P/E ratio of 6.78 and a beta of 1.76. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.57 and a current ratio of 0.59. Ryder System has a 52-week low of $61.71 and a 52-week high of $93.05.

Ryder System (NYSE:R – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The transportation company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $1.21. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.57 billion. Ryder System had a return on equity of 24.86% and a net margin of 6.25%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, equities analysts forecast that Ryder System will post 13.99 earnings per share for the current fiscal year.

In other news, Director Luis P. Nieto, Jr. sold 2,220 shares of Ryder System stock in a transaction on Monday, May 9th. The stock was sold at an average price of $73.28, for a total value of $162,681.60. Following the completion of the transaction, the director now directly owns 26,939 shares in the company, valued at $1,974,089.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Karen M. Jones sold 7,269 shares of Ryder System stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $73.63, for a total value of $535,216.47. Following the completion of the transaction, the chief marketing officer now owns 6,963 shares of the company’s stock, valued at $512,685.69. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of R. FMR LLC grew its position in Ryder System by 574.2% during the first quarter. FMR LLC now owns 583,279 shares of the transportation company’s stock worth $36,157,000 after buying an additional 496,769 shares in the last quarter. Morgan Stanley lifted its stake in Ryder System by 55.3% during the second quarter. Morgan Stanley now owns 580,303 shares of the transportation company’s stock worth $43,135,000 after purchasing an additional 206,653 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ryder System by 5.0% during the third quarter. The Manufacturers Life Insurance Company now owns 61,961 shares of the transportation company’s stock worth $5,125,000 after purchasing an additional 2,941 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Ryder System by 273.4% during the third quarter. Macquarie Group Ltd. now owns 6,146 shares of the transportation company’s stock worth $508,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Ryder System by 423.5% during the third quarter. Rockefeller Capital Management L.P. now owns 623 shares of the transportation company’s stock worth $51,000 after purchasing an additional 504 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

About Ryder System (Get Rating)

Ryder System, Inc operates as a logistics and transportation company worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.

Further Reading

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