Ryder System (NYSE:R) Upgraded to Strong-Buy at StockNews.com

Ryder System (NYSE:R) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

R has been the subject of a number of other reports. Morgan Stanley initiated coverage on Ryder System in a research note on Monday, June 24th. They set an “overweight” rating and a $165.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of Ryder System from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Vertical Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and increased their target price for the stock from $125.00 to $145.00 in a report on Friday, June 14th. JPMorgan Chase & Co. boosted their price target on shares of Ryder System from $120.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Stephens lifted their target price on Ryder System from $113.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.86.

Ryder System Stock Performance

R traded down $0.56 during trading on Thursday, reaching $123.14. 195,963 shares of the company’s stock were exchanged, compared to its average volume of 281,507. The company has a market capitalization of $5.40 billion, a P/E ratio of 16.03 and a beta of 1.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.22. The business has a 50 day moving average price of $122.63 and a 200 day moving average price of $117.35. Ryder System has a fifty-two week low of $82.46 and a fifty-two week high of $128.85.

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. As a group, analysts predict that Ryder System will post 12.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Luis P. Nieto, Jr. sold 1,443 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $125.61, for a total value of $181,255.23. Following the transaction, the director now directly owns 28,569 shares of the company’s stock, valued at approximately $3,588,552.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Sanford J. Hodes sold 3,360 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.59, for a total value of $421,982.40. Following the completion of the sale, the senior vice president now directly owns 24,119 shares of the company’s stock, valued at approximately $3,029,105.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Luis P. Nieto, Jr. sold 1,443 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $125.61, for a total transaction of $181,255.23. Following the completion of the sale, the director now owns 28,569 shares of the company’s stock, valued at approximately $3,588,552.09. The disclosure for this sale can be found here. Insiders have sold a total of 95,800 shares of company stock valued at $11,990,862 over the last 90 days. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryder System

Large investors have recently modified their holdings of the business. EntryPoint Capital LLC purchased a new stake in Ryder System in the first quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new position in Ryder System in the 4th quarter worth $26,000. GAMMA Investing LLC purchased a new position in shares of Ryder System during the fourth quarter valued at about $45,000. Creekmur Asset Management LLC bought a new position in shares of Ryder System in the 4th quarter worth approximately $68,000. Finally, CWM LLC grew its stake in Ryder System by 62.0% in the first quarter. CWM LLC now owns 643 shares of the transportation company’s stock worth $77,000 after purchasing an additional 246 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

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.