Ryder System (NYSE:R) Sets New 1-Year High Following Analyst Upgrade

Ryder System, Inc. (NYSE:R) shares hit a new 52-week high during mid-day trading on Monday after Citigroup raised their price target on the stock from $285.00 to $302.00. Citigroup currently has a buy rating on the stock. Ryder System traded as high as $284.29 and last traded at $284.9390, with a volume of 222,504 shares traded. The stock had previously closed at $270.90.

R has been the topic of several other research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ryder System in a research note on Monday, August 24th. JPMorgan Chase & Co. increased their price objective on Ryder System from $298.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday. Susquehanna cut their price objective on Ryder System from $310.00 to $280.00 and set a “positive” rating for the company in a report on Friday, October 2nd. Wall Street Zen upgraded shares of Ryder System from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 12th. Finally, Citizens Jmp assumed coverage on shares of Ryder System in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Ryder System currently has an average rating of “Moderate Buy” and a consensus price target of $292.44.

Institutional Trading of Ryder System

Several large investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its position in Ryder System by 36.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 160 shares of the transportation company’s stock valued at $42,000 after acquiring an additional 43 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Ryder System by 19.2% during the third quarter. Versant Capital Management Inc now owns 317 shares of the transportation company’s stock worth $72,000 after purchasing an additional 51 shares in the last quarter. Quantum Portfolio Management LLC lifted its position in shares of Ryder System by 2.1% during the first quarter. Quantum Portfolio Management LLC now owns 2,564 shares of the transportation company’s stock worth $525,000 after purchasing an additional 52 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Ryder System by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 7,337 shares of the transportation company’s stock worth $1,404,000 after purchasing an additional 58 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Ryder System by 0.7% during the second quarter. Baird Financial Group Inc. now owns 9,441 shares of the transportation company’s stock valued at $2,490,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 87.47% of the company’s stock.

Ryder System Price Performance

The company has a debt-to-equity ratio of 1.86, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $10.89 billion, a P/E ratio of 21.72 and a beta of 1.05. The company’s 50 day moving average price is $242.45 and its 200 day moving average price is $249.54.

Ryder System (NYSE:R) last posted its quarterly earnings data on Thursday, October 22nd. The transportation company reported $4.33 earnings per share for the quarter, topping the consensus estimate of $4.15 by $0.18. Ryder System had a net margin of 3.98% and a return on equity of 19.14%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the company posted $3.57 EPS. Ryder System’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Ryder System, Inc. will post 15.07 EPS for the current fiscal year.

Ryder System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, November 23rd will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 23rd. Ryder System’s dividend payout ratio (DPR) is 30.79%.

About Ryder System

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.