Ryder System (NYSE:R) Sets New 12-Month High on Strong Earnings

Ryder System, Inc. (NYSE:R)’s stock price hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $122.94 and last traded at $121.59, with a volume of 34350 shares trading hands. The stock had previously closed at $122.01.

The transportation company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.43. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Ryder System had a return on equity of 19.68% and a net margin of 3.45%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.81 earnings per share.

Ryder System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.84 annualized dividend and a yield of 2.35%. Ryder System’s payout ratio is 32.53%.

Analyst Ratings Changes

R has been the topic of several research reports. Robert W. Baird restated a “buy” rating and issued a $140.00 target price on shares of Ryder System in a research note on Wednesday, January 3rd. StockNews.com cut Ryder System from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Vertical Research cut shares of Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Wednesday, January 10th. Wells Fargo & Company lifted their target price on Ryder System from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $122.00 target price on shares of Ryder System in a report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $120.00.

Insider Buying and Selling at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now directly owns 12,396 shares in the company, valued at $1,406,698.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ryder System

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Ryder System by 33.9% during the third quarter. CWM LLC now owns 438 shares of the transportation company’s stock valued at $47,000 after buying an additional 111 shares during the period. SG Americas Securities LLC increased its position in shares of Ryder System by 331.2% during the third quarter. SG Americas Securities LLC now owns 9,280 shares of the transportation company’s stock valued at $992,000 after acquiring an additional 7,128 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Ryder System by 406.0% during the third quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock valued at $54,000 after buying an additional 406 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of Ryder System during the third quarter valued at $243,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Ryder System by 95.2% during the third quarter. Handelsbanken Fonder AB now owns 7,026 shares of the transportation company’s stock valued at $751,000 after buying an additional 3,426 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Ryder System Trading Down 1.1 %

The company has a market cap of $5.34 billion, a P/E ratio of 14.05 and a beta of 1.40. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s 50-day moving average is $114.26 and its two-hundred day moving average is $110.58.

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.