Ryder System (R) Rating Increased to Buy at Zacks Investment Research
Ryder System (NYSE:R) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $100.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.33% from the stock’s current price.
According to Zacks, “Shares of Ryder have outperformed the industry it belongs to in the last six months. The stock gained 22.8%, while the industry appreciated 14.8%. We are encouraged by the company's efforts to reward its shareholders through dividend payments. In 2017, Ryder System hiked its quarterly cash dividend by 2 cents to 46 cents per share. The company's efforts to grow its lease fleet pleases us. Its strong customer base is also a positive. Moreover, the Zacks Consensus Estimate for fourth-quarter has been revised upward 3.1% in the last 90 days. Detailed results will be out on Feb 16. However, a weak rental demand and high operating expenses may hurt the company's fourth-quarter results.”
Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Ryder System from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Robert W. Baird restated an “outperform” rating and set a $98.00 target price (up previously from $84.00) on shares of Ryder System in a research note on Monday, October 2nd. JPMorgan Chase & Co. boosted their target price on Ryder System from $69.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Aegis restated a “buy” rating and set a $91.00 target price (up previously from $84.00) on shares of Ryder System in a research note on Tuesday, October 10th. Finally, Buckingham Research boosted their target price on Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ryder System presently has an average rating of “Buy” and a consensus price target of $86.14.
Shares of Ryder System (R) traded up $0.52 on Monday, hitting $89.82. The stock had a trading volume of 351,100 shares, compared to its average volume of 443,833. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.39. The stock has a market cap of $4,755.76, a PE ratio of 24.34, a PEG ratio of 1.09 and a beta of 1.52. Ryder System has a fifty-two week low of $62.52 and a fifty-two week high of $90.00.
Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ryder System had a return on equity of 10.72% and a net margin of 2.75%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS. research analysts forecast that Ryder System will post 4.51 EPS for the current fiscal year.
Ryder System announced that its Board of Directors has authorized a share buyback plan on Thursday, December 14th that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other Ryder System news, CMO Karen M. Jones sold 4,790 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $81.78, for a total value of $391,726.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis C. Cooke sold 32,328 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total value of $2,633,438.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,633 shares of company stock valued at $5,174,795. 1.95% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ryder System by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 156 shares during the period. Advisor Group Inc. increased its holdings in shares of Ryder System by 5.8% in the second quarter. Advisor Group Inc. now owns 9,348 shares of the transportation company’s stock valued at $672,000 after purchasing an additional 514 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of Ryder System by 0.8% in the second quarter. TIAA CREF Investment Management LLC now owns 87,470 shares of the transportation company’s stock valued at $6,296,000 after purchasing an additional 685 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Ryder System by 0.6% in the third quarter. Allianz Asset Management GmbH now owns 131,610 shares of the transportation company’s stock valued at $11,128,000 after purchasing an additional 843 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of Ryder System by 11.6% in the third quarter. Pacer Advisors Inc. now owns 8,129 shares of the transportation company’s stock valued at $687,000 after purchasing an additional 847 shares during the period. Institutional investors own 89.35% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Ryder System (R) Rating Increased to Buy at Zacks Investment Research” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.watchlistnews.com/ryder-system-r-rating-increased-to-buy-at-zacks-investment-research/1808181.html.
Ryder System Company Profile
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ryder System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryder System and related companies with Analyst Ratings Network's FREE daily email newsletter.