Ryder System (NYSE:R) Price Target Raised to $135.00

Ryder System (NYSE:R) had its price objective lifted by The Goldman Sachs Group from $122.00 to $135.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

Several other research firms have also recently commented on R. Wells Fargo & Company upped their target price on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Vertical Research cut shares of Ryder System from a buy rating to a hold rating and set a $120.00 target price for the company. in a research report on Wednesday, January 10th. Stephens upped their target price on shares of Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a research report on Wednesday. StockNews.com cut shares of Ryder System from a buy rating to a hold rating in a research report on Saturday, April 13th. Finally, Robert W. Baird restated a buy rating and issued a $140.00 target price on shares of Ryder System in a research report on Wednesday, January 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Ryder System has a consensus rating of Hold and an average target price of $123.71.

Ryder System Price Performance

Shares of NYSE:R opened at $121.94 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 2.22. Ryder System has a fifty-two week low of $76.15 and a fifty-two week high of $123.45. The firm has a 50-day simple moving average of $115.04 and a 200 day simple moving average of $110.87. The company has a market cap of $5.34 billion, a PE ratio of 15.88 and a beta of 1.40.

Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share 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 the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Ryder System will post 11.9 EPS for the current year.

Ryder System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Friday, February 16th. Ryder System’s dividend payout ratio is currently 36.98%.

Insider Transactions at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total transaction of $877,994.76. Following the completion of 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 SEC, which can be accessed through the SEC website. Company insiders own 5.10% of the company’s stock.

Institutional Trading of Ryder System

Several institutional investors and hedge funds have recently added to or reduced their stakes in R. Headlands Technologies LLC purchased a new stake in shares of Ryder System in the 3rd quarter valued at approximately $26,000. Contravisory Investment Management Inc. purchased a new stake in shares of Ryder System in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new stake in shares of Ryder System in the 4th quarter valued at approximately $45,000. CWM LLC lifted its position in shares of Ryder System by 33.9% in the 3rd quarter. CWM LLC now owns 438 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 111 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Ryder System by 406.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock valued at $54,000 after acquiring an additional 406 shares in the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

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.