Ryder System (NYSE:R) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Ryder has an encouraging earnings history having surpassed the Zacks Consensus Estimate in each of the three quarters of 2018. We expect the company to perform well on the bottom line front in the fourth quarter as well. Detailed results are scheduled to be available on Feb 14. The company antiicpates adjusted earnings per share of $1.75-$1.85 in the fourth quarter of 2018, higher than $1.64 reported in the third quarter of 2018. The company's outlook for 2018 is also encouraging. Ryder's efforts to reward shareholders through dividend payments is also appreciative. However, the company's bottom line is likely to be hurt by high costs in the fourth quarter. High capital expenditures are likely to push up costs. The company expects gross capital expenditures to be $3.1 billion in 2018, higher than $1.94 billion in 2017. Its high debt levels are also worrisome.”
A number of other equities research analysts have also weighed in on the company. Loop Capital raised Ryder System from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Thursday, October 25th. ValuEngine downgraded Ryder System from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. Stephens set a $64.00 price target on Ryder System and gave the company a “hold” rating in a report on Monday, October 29th. Stifel Nicolaus upgraded Ryder System from a “hold” rating to a “buy” rating and cut their price target for the company from $81.00 to $69.00 in a report on Thursday, November 29th. Finally, Deutsche Bank cut their price target on Ryder System from $88.00 to $77.00 and set a “buy” rating on the stock in a report on Monday, December 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Ryder System currently has an average rating of “Hold” and a consensus target price of $76.50.
Shares of NYSE R opened at $60.52 on Tuesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.67 and a quick ratio of 0.64. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 13.36 and a beta of 1.72. Ryder System has a twelve month low of $44.80 and a twelve month high of $85.13.
In other news, EVP John J. Gleason sold 12,795 shares of Ryder System stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $55.14, for a total value of $705,516.30. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.27% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Ryder System by 7.8% during the 4th quarter. BlackRock Inc. now owns 6,570,551 shares of the transportation company’s stock worth $316,370,000 after buying an additional 475,667 shares during the last quarter. Pzena Investment Management LLC grew its stake in Ryder System by 21.0% during the 4th quarter. Pzena Investment Management LLC now owns 2,671,612 shares of the transportation company’s stock worth $128,638,000 after buying an additional 463,706 shares during the last quarter. LSV Asset Management grew its stake in Ryder System by 2.8% during the 4th quarter. LSV Asset Management now owns 1,938,612 shares of the transportation company’s stock worth $93,344,000 after buying an additional 53,612 shares during the last quarter. Janus Henderson Group PLC lifted its position in Ryder System by 222.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,022,619 shares of the transportation company’s stock worth $74,723,000 after acquiring an additional 705,115 shares during the period. Finally, Luminus Management LLC lifted its position in Ryder System by 53.0% during the 3rd quarter. Luminus Management LLC now owns 800,931 shares of the transportation company’s stock worth $58,524,000 after acquiring an additional 277,320 shares during the period. Hedge funds and other institutional investors own 91.19% of the company’s stock.
Ryder System Company Profile
Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as ancillary maintenance and fleet support services.
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