Ryder System (NYSE:R) Price Target Raised to $126.00

Ryder System (NYSE:R) had its price objective raised by JPMorgan Chase & Co. from $120.00 to $126.00 in a research report sent to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

Other research analysts have also issued reports about the company. StockNews.com lowered Ryder System from a buy rating to a hold rating in a research report on Saturday, April 13th. Wells Fargo & Company raised their target price on Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a report on Thursday, February 15th. Robert W. Baird reaffirmed a buy rating and issued a $140.00 target price on shares of Ryder System in a report on Wednesday, January 3rd. Stephens raised their price objective on Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a research report on Wednesday. Finally, The Goldman Sachs Group reiterated a buy rating and issued a $122.00 price objective on shares of Ryder System in a research report on Thursday, February 15th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ryder System has a consensus rating of Hold and a consensus target price of $123.71.

Ryder System Stock Performance

R stock opened at $121.94 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 2.22. The firm has a market cap of $5.34 billion, a P/E ratio of 15.88 and a beta of 1.40. Ryder System has a 12-month low of $76.15 and a 12-month high of $123.45. The stock’s 50 day simple moving average is $115.04 and its 200 day simple moving average is $110.87.

Ryder System (NYSE:R) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.43. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the business posted $2.81 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts predict that Ryder System will post 11.9 EPS for the current year.

Ryder System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s payout ratio is 36.98%.

Insider Activity

In related news, CMO Karen M. Jones sold 7,737 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction of $877,994.76. Following the sale, the chief marketing officer now owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryder System

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Preferred LLC bought a new stake in Ryder System during the fourth quarter worth $1,892,000. Cambridge Financial Group Inc. bought a new stake in Ryder System during the third quarter worth $8,186,000. UBS Group AG lifted its stake in Ryder System by 24.2% during the third quarter. UBS Group AG now owns 78,946 shares of the transportation company’s stock worth $8,443,000 after purchasing an additional 15,361 shares during the last quarter. Earnest Partners LLC lifted its stake in Ryder System by 2.5% during the third quarter. Earnest Partners LLC now owns 1,666,621 shares of the transportation company’s stock worth $178,245,000 after purchasing an additional 40,086 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Ryder System by 174.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,717 shares of the transportation company’s stock worth $812,000 after purchasing an additional 4,908 shares during the last quarter. 87.47% of the stock is currently owned by institutional investors.

About Ryder System

Ryder System, Inc operates as a logistics and transportation company worldwide. It 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; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.