Stephens Begins Coverage on Ryder System (NYSE:R)

Stephens initiated coverage on shares of Ryder System (NYSE:R) in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley initiated coverage on shares of Ryder System in a research note on Monday, June 24th. They set an overweight rating and a $165.00 target price on the stock. Vertical Research upgraded Ryder System from a hold rating to a buy rating and lifted their price target for the stock from $125.00 to $145.00 in a report on Friday, June 14th. StockNews.com upgraded Ryder System from a buy rating to a strong-buy rating in a report on Thursday, July 4th. The Goldman Sachs Group lifted their price target on Ryder System from $122.00 to $135.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Four investment 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 MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $135.71.

Ryder System Price Performance

Shares of NYSE R opened at $120.11 on Monday. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 15.64 and a beta of 1.29. Ryder System has a 12 month low of $84.75 and a 12 month high of $128.85. The firm’s 50 day simple moving average is $122.44 and its 200-day simple moving average is $117.50. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.82 and a quick ratio of 0.82.

Ryder System (NYSE:R) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company earned $2.81 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Ryder System will post 12.27 EPS for the current year.

Ryder System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, May 20th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, May 17th. Ryder System’s dividend payout ratio is presently 36.98%.

Insider Activity at Ryder System

In related news, insider Thomas M. Havens sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $119.40, for a total value of $955,200.00. Following the completion of the transaction, the insider now directly owns 24,401 shares of the company’s stock, valued at $2,913,479.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ryder System news, CMO Karen M. Jones sold 6,776 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total value of $816,101.44. Following the completion of the sale, the chief marketing officer now owns 5,666 shares in the company, valued at $682,413.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas M. Havens sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $119.40, for a total value of $955,200.00. Following the completion of the sale, the insider now owns 24,401 shares of the company’s stock, valued at approximately $2,913,479.40. The disclosure for this sale can be found here. Insiders sold 95,800 shares of company stock valued at $11,990,862 over the last three months. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ryder System

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Ryder System by 1,051.0% during the third quarter. Wellington Management Group LLP now owns 2,551,559 shares of the transportation company’s stock worth $272,889,000 after purchasing an additional 2,329,880 shares during the last quarter. Norges Bank purchased a new stake in shares of Ryder System during the fourth quarter worth approximately $86,647,000. Sei Investments Co. raised its stake in shares of Ryder System by 29.1% during the fourth quarter. Sei Investments Co. now owns 756,302 shares of the transportation company’s stock worth $87,024,000 after purchasing an additional 170,650 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ryder System by 2.1% during the first quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock worth $627,800,000 after purchasing an additional 109,930 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Ryder System by 242.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 92,666 shares of the transportation company’s stock worth $11,138,000 after purchasing an additional 65,609 shares during the last quarter. 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.