Ryder System (NYSE:R) Price Target Raised to $120.00

Ryder System (NYSE:R) had its price objective lifted by Stephens from $113.00 to $120.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Stephens’ target price points to a potential downside of 1.95% from the stock’s previous close.

Several other analysts have also commented on the company. JPMorgan Chase & Co. boosted their price target on Ryder System from $117.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Robert W. Baird reiterated a “buy” rating and issued a $140.00 price objective 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 objective for the company. in a research report on Wednesday, January 10th. Wells Fargo & Company lifted their price objective on Ryder System from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $122.00 target price on shares of Ryder System in a research report on Thursday, February 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ryder System has a consensus rating of “Hold” and an average price target of $123.71.

Ryder System Price Performance

Shares of R stock opened at $122.39 on Wednesday. The stock’s fifty day simple moving average is $114.74 and its 200 day simple moving average is $110.74. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.11 and a quick ratio of 0.62. The firm 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 one year low of $76.15 and a one year high of $123.45.

Ryder System (NYSE:R) last announced its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.71 by $0.43. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. Ryder System’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.81 EPS. On average, analysts expect that Ryder System will post 11.9 earnings per share 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 the 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 of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Ryder System

Large investors have recently modified their holdings of the business. Advisors Preferred LLC bought a new stake in shares of Ryder System in the fourth quarter worth about $1,892,000. Cambridge Financial Group Inc. bought a new position in shares of Ryder System during the third quarter worth about $8,186,000. UBS Group AG grew its holdings in shares of 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 buying an additional 15,361 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of 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 buying an additional 40,086 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of 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 buying an additional 4,908 shares in 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.