Ryder System (NYSE:R) declared that its board has approved a share buyback plan, which authorizes the company to repurchase 1,500,000 outstanding shares on Thursday, December 14th, EventVestor reports. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Ryder System (NYSE:R) opened at $84.01 on Wednesday. Ryder System has a 52-week low of $62.52 and a 52-week high of $85.50. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a market cap of $4,316.30, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51.

Ryder System (NYSE:R) last issued its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted $1.67 EPS. Ryder System’s revenue for the quarter was up 7.2% on a year-over-year basis. equities analysts anticipate that Ryder System will post 4.51 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Monday, November 20th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, November 17th. Ryder System’s payout ratio is currently 49.86%.

A number of research analysts recently commented on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $98.00 target price (up from $84.00) on shares of Ryder System in a research report on Monday, October 2nd. KeyCorp raised shares of Ryder System from a “sector weight” rating to an “overweight” rating in a research report on Wednesday, September 13th. ValuEngine downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Aegis reaffirmed a “buy” rating and issued a $91.00 target price (up from $84.00) on shares of Ryder System in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $68.00 target price on shares of Ryder System in a research report on Tuesday, September 5th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ryder System has an average rating of “Buy” and a consensus price target of $85.00.

In other news, insider Dennis C. Cooke sold 32,328 shares of Ryder System stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total value of $2,633,438.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Karen M. Jones sold 4,790 shares of Ryder System stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $81.78, for a total transaction of $391,726.20. The disclosure for this sale can be found here. Insiders have sold a total of 63,633 shares of company stock worth $5,174,795 over the last three months. 1.95% of the stock is currently owned by insiders.

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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.

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