Ryder System (NYSE:R) Reaches New 1-Year High on Better-Than-Expected Earnings

Ryder System, Inc. (NYSE:R) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $122.94 and last traded at $121.59, with a volume of 34350 shares trading hands. The stock had previously closed at $122.01.

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 19.68% and a net margin of 3.45%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the company earned $2.81 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year.

Ryder System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.84 annualized dividend and a yield of 2.35%. Ryder System’s dividend payout ratio is presently 32.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Ryder System from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $122.00 price objective on shares of Ryder System in a research report on Thursday, February 15th. StockNews.com downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. JPMorgan Chase & Co. increased their price target on shares of Ryder System from $117.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, Stephens lifted their price objective on shares of Ryder System from $110.00 to $113.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $120.00.

Insider Activity

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of Ryder System 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 directly owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in Ryder System by 1,051.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,551,559 shares of the transportation company’s stock worth $272,889,000 after buying an additional 2,329,880 shares in the last quarter. Norges Bank bought a new stake in shares of Ryder System during the fourth quarter worth $86,647,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Ryder System during the third quarter valued at $25,233,000. LSV Asset Management boosted its holdings in Ryder System by 13.5% in the third quarter. LSV Asset Management now owns 1,570,462 shares of the transportation company’s stock valued at $167,961,000 after acquiring an additional 187,174 shares during the last quarter. Finally, Sei Investments Co. increased its position in Ryder System by 29.1% in the fourth quarter. Sei Investments Co. now owns 756,302 shares of the transportation company’s stock worth $87,024,000 after purchasing an additional 170,650 shares during the period. 87.47% of the stock is owned by institutional investors.

Ryder System Price Performance

The stock has a market capitalization of $5.34 billion, a P/E ratio of 14.05 and a beta of 1.40. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.80. The company has a fifty day simple moving average of $114.26 and a two-hundred day simple moving average of $110.58.

Ryder System Company Profile

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.