Ryder System (NYSE:R) Given New $126.00 Price Target at JPMorgan Chase & Co.

Ryder System (NYSE:R) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $120.00 to $126.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 2.95% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Robert W. Baird restated a “buy” rating and issued a $140.00 price target on shares of Ryder System in a research report on Wednesday, January 3rd. Vertical Research downgraded Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Wednesday, January 10th. 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 report on Thursday, February 15th. StockNews.com downgraded Ryder System from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Finally, Stephens lifted their target price on Ryder System from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $123.71.

Ryder System Stock Performance

Shares of Ryder System stock opened at $122.39 on Wednesday. The firm’s 50-day moving average is $114.74 and its 200 day moving average is $110.74. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 14.02 and a beta of 1.40. Ryder System has a 1 year low of $76.15 and a 1 year high of $123.45. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.11 and a quick ratio of 0.62.

Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm posted $2.81 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Ryder System will post 11.9 EPS for the current fiscal year.

Insider Buying and Selling at Ryder System

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of Ryder System stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the transaction, the chief marketing officer now owns 12,396 shares in the company, valued at $1,406,698.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryder System

Several hedge funds have recently modified their holdings of R. SummerHaven Investment Management LLC boosted its position in Ryder System by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 8,528 shares of the transportation company’s stock valued at $981,000 after buying an additional 98 shares during the last quarter. CWM LLC boosted its position in Ryder System by 33.9% in the third quarter. CWM LLC now owns 438 shares of the transportation company’s stock valued at $47,000 after buying an additional 111 shares during the last quarter. Quent Capital LLC boosted its position in Ryder System by 17.7% in the fourth quarter. Quent Capital LLC now owns 745 shares of the transportation company’s stock valued at $86,000 after buying an additional 112 shares during the last quarter. Parallel Advisors LLC boosted its position in Ryder System by 8.7% in the fourth quarter. Parallel Advisors LLC now owns 1,455 shares of the transportation company’s stock valued at $167,000 after buying an additional 116 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Ryder System by 7.2% in the fourth quarter. M&T Bank Corp now owns 2,502 shares of the transportation company’s stock valued at $288,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

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.