Ryder System (NYSE:R) Stock Price Expected to Rise, Susquehanna Analyst Says

Ryder System (NYSE:R) had its target price lifted by stock analysts at Susquehanna from $280.00 to $318.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “positive” rating on the transportation company’s stock. Susquehanna‘s price target would indicate a potential upside of 13.90% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Morgan Stanley raised shares of Ryder System from an “overweight” rating to a “buy” rating in a research report on Monday, October 5th. Citigroup restated a “market perform” rating on shares of Ryder System in a research report on Friday. Stephens lifted their target price on shares of Ryder System from $280.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird reiterated a “neutral” rating and issued a $245.00 price target (down from $290.00) on shares of Ryder System in a report on Tuesday, September 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ryder System in a report on Monday, August 24th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $296.67.

Ryder System Price Performance

R stock traded down $2.91 during trading on Tuesday, hitting $279.20. The stock had a trading volume of 17,144 shares, compared to its average volume of 361,097. The company’s 50 day moving average price is $243.11 and its two-hundred day moving average price is $235.39. Ryder System has a 1-year low of $161.41 and a 1-year high of $287.00. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 21.33 and a beta of 1.05. 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 released its earnings results on Thursday, October 22nd. The transportation company reported $4.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.15 by $0.18. Ryder System had a net margin of 3.98% and a return on equity of 19.14%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm earned $3.57 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts forecast that Ryder System will post 15.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Ryder System

Hedge funds have recently made changes to their positions in the stock. Keating Financial Advisory Services Inc. purchased a new stake in shares of Ryder System during the 2nd quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Ryder System in the 2nd quarter worth $30,000. Cedar Mountain Advisors LLC boosted its holdings in Ryder System by 522.7% in the first quarter. Cedar Mountain Advisors LLC now owns 137 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 115 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Ryder System by 36.8% during the second 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 during the period. Finally, Compass Financial Management LLC purchased a new stake in Ryder System during the second quarter valued at about $54,000. Institutional investors and hedge funds own 87.47% of the company’s stock.

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.