Ryder System (NYSE:R) Reaches New 52-Week High – Here’s Why

Ryder System, Inc. (NYSE:R) shares hit a new 52-week high during trading on Monday. The stock traded as high as $287.50 and last traded at $287.1370, with a volume of 59,090 shares traded. The stock had previously closed at $282.55.

Trending Headlines about Ryder System

Here are the key news stories impacting Ryder System this week:

• Positive Sentiment: Ryder completed its acquisition of Efficiency Enterprises, adding six locations across Florida, New York, Maryland, and Delaware, plus approximately 50 technicians. The expanded East Coast network could increase Ryder’s capacity to provide fleet management, maintenance, and leasing services; financial terms were not disclosed. Ryder acquisition announcement
• Negative Sentiment: Several insiders recently sold shares. EVP Thomas Michael Regan sold 3,032 shares, reducing his position by 52.43%; insider Thomas Havens sold 5,500 shares, and CFO Cristina Gallo-Aquino sold 1,238. The sales may weigh on sentiment, though each executive retained shares and such transactions do not necessarily reflect a negative business outlook. Insider transaction report

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on R shares. Morgan Stanley raised shares of Ryder System from an “overweight” rating to a “buy” rating in a research report on Monday, October 5th. Citizens Jmp started coverage on shares of Ryder System in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. Wells Fargo & Company raised their price objective on shares of Ryder System from $300.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Robert W. Baird lowered shares of Ryder System from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $290.00 to $245.00 in a research note on Tuesday, September 29th. Finally, Stephens lifted their price objective on shares of Ryder System from $280.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $296.67.

Ryder System Stock Performance

The firm has a 50 day moving average of $246.47 and a 200-day moving average of $238.11. The stock has a market capitalization of $10.83 billion, a PE ratio of 21.63 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.67 and a current ratio of 0.67.

Ryder System (NYSE:R) last announced its quarterly earnings data on Thursday, October 22nd. The transportation company reported $4.33 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $0.18. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.38 billion. Ryder System had a return on equity of 19.14% and a net margin of 3.98%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $3.57 EPS. Research analysts forecast that Ryder System, Inc. will post 15.07 earnings per share for the current year.

Ryder System Dividend Announcement

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

Insider Activity at Ryder System

In other Ryder System news, insider Robert E. Sanchez sold 26,350 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $281.29, for a total value of $7,411,991.50. Following the completion of the sale, the insider owned 42,481 shares in the company, valued at $11,949,480.49. This represents a 38.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas Regan sold 3,032 shares of Ryder System stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $288.05, for a total transaction of $873,367.60. Following the sale, the executive vice president directly owned 2,751 shares of the company’s stock, valued at $792,425.55. This trade represents a 52.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 44,384 shares of company stock valued at $12,522,852. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Ryder System

A number of hedge funds have recently modified their holdings of the stock. Beverly Hills Private Wealth LLC boosted its holdings in Ryder System by 19.8% during the third quarter. Beverly Hills Private Wealth LLC now owns 1,433 shares of the transportation company’s stock valued at $327,000 after acquiring an additional 237 shares during the period. Brighton Jones LLC increased its stake in shares of Ryder System by 11.2% in the third quarter. Brighton Jones LLC now owns 947 shares of the transportation company’s stock worth $216,000 after purchasing an additional 95 shares during the period. Ethic Inc. increased its stake in shares of Ryder System by 22.4% in the third quarter. Ethic Inc. now owns 14,174 shares of the transportation company’s stock worth $3,230,000 after purchasing an additional 2,594 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in shares of Ryder System by 4.4% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,898 shares of the transportation company’s stock worth $432,000 after purchasing an additional 80 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Ryder System by 49.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,108 shares of the transportation company’s stock worth $3,670,000 after purchasing an additional 5,350 shares during the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

Ryder System Company Profile

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.