Comerica Bank decreased its holdings in shares of Ryder System, Inc. (NYSE:R) by 5.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,712 shares of the transportation company’s stock after selling 2,810 shares during the period. Comerica Bank’s holdings in Ryder System were worth $3,418,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in R. Jackson Grant Investment Advisers Inc. acquired a new position in Ryder System during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC acquired a new position in Ryder System during the 4th quarter worth approximately $43,000. Charter Oak Capital Management LLC acquired a new position in Ryder System during the 4th quarter worth approximately $45,000. Twin Tree Management LP raised its stake in Ryder System by 348.8% during the 4th quarter. Twin Tree Management LP now owns 965 shares of the transportation company’s stock worth $60,000 after buying an additional 750 shares during the period. Finally, KBC Group NV acquired a new position in Ryder System during the 1st quarter worth approximately $79,000. Institutional investors own 86.28% of the company’s stock.
Several analysts have recently commented on R shares. Truist increased their price objective on Ryder System from $85.00 to $90.00 in a research note on Thursday, April 29th. Vertical Research started coverage on Ryder System in a research note on Thursday, April 1st. They issued a “buy” rating and a $93.00 price objective for the company. Truist Securities increased their price objective on Ryder System from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 21st. Finally, TheStreet raised Ryder System from a “c” rating to a “b-” rating in a research note on Wednesday, April 28th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $71.00.
Shares of R opened at $85.14 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -22.06 and a beta of 1.98. The stock has a 50 day moving average of $78.55 and a 200 day moving average of $67.65. Ryder System, Inc. has a 12 month low of $29.40 and a 12 month high of $89.65.
Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, April 28th. The transportation company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.51. Ryder System had a negative return on equity of 0.39% and a negative net margin of 2.37%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business posted ($1.38) earnings per share. Ryder System’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Ryder System, Inc. will post -0.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 18th. Shareholders of record on Monday, May 24th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, May 21st. Ryder System’s dividend payout ratio (DPR) is 45.16%.
Ryder System Company Profile
Ryder System, Inc operates as a logistics and transportation company worldwide. The company 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, 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 fleet support services.
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