Ryder System (NYSE:R) Sets New 52-Week High – Here’s Why

Ryder System, Inc. (NYSE:R – Get Free Report) reached a new 52-week high during mid-day trading on Monday. The company traded as high as $287.50 and last traded at $287.1370, with a volume of 59,090 shares changing hands. The stock had previously closed at $282.55.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Ryder System from a “buy” rating to a “strong-buy” rating in a report on Monday, October 12th. JPMorgan Chase & Co. lifted their price target on shares of Ryder System from $298.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Morgan Stanley upgraded Ryder System from an “overweight” rating to a “buy” rating in a research note on Monday, October 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Ryder System in a research report on Monday, August 24th. Finally, Citizens Jmp assumed coverage on Ryder System in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $296.67.

Check Out Our Latest Stock Analysis on Ryder System

Ryder System Trading Up 2.6%

The firm’s fifty day simple moving average is $245.00 and its 200 day simple moving average is $237.18. The stock has a market capitalization of $11.08 billion, a P/E ratio of 22.03 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.67 and a current ratio of 0.67.

Ryder System (NYSE:R – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The transportation company reported $4.33 earnings per share for the quarter, topping analysts’ consensus estimates of $4.15 by $0.18. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.38 billion. Ryder System had a net margin of 3.98% and a return on equity of 19.14%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.57 EPS. As a group, equities research analysts forecast that Ryder System, Inc. will post 15.07 EPS for the current fiscal year.

Ryder System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 23rd will be paid a $1.01 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $4.04 annualized dividend and a yield of 1.4%. Ryder System’s dividend payout ratio is presently 30.79%.

Insider Buying and Selling at Ryder System

In other news, insider Robert Sanchez sold 1,653 shares of the stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $280.01, for a total value of $462,856.53. Following the completion of the transaction, the insider directly owned 40,828 shares in the company, valued at approximately $11,432,248.28. This represents a 3.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 34,614 shares of company stock worth $9,749,529 over the last quarter. Insiders own 4.90% of the company’s stock.

Institutional Trading of Ryder System

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Ryder System in the second quarter valued at approximately $1,060,749,000. Dimensional Fund Advisors LP raised its holdings in Ryder System by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,621,947 shares of the transportation company’s stock valued at $331,996,000 after buying an additional 6,652 shares during the last quarter. First Trust Advisors LP boosted its position in Ryder System by 81.5% during the 1st quarter. First Trust Advisors LP now owns 1,010,320 shares of the transportation company’s stock worth $206,822,000 after buying an additional 453,697 shares during the period. Bank of America Corp DE acquired a new stake in Ryder System during the 2nd quarter worth approximately $207,689,000. Finally, Bank of New York Mellon Corp acquired a new stake in Ryder System during the 2nd quarter worth approximately $136,320,000. 87.47% of the stock is currently owned by institutional investors.

About Ryder System

(Get Free Report)

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.

See Also

Receive News & Ratings for Ryder System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryder System and related companies with MarketBeat.com's FREE daily email newsletter.