The Goldman Sachs Group Boosts Ryder System (NYSE:R) Price Target to $183.00

Ryder System (NYSE:R) had its target price boosted by The Goldman Sachs Group from $160.00 to $183.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their target price on Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Ryder System has an average rating of “Moderate Buy” and an average target price of $147.43.

Ryder System Stock Performance

Shares of R opened at $166.73 on Thursday. The stock has a 50-day moving average of $156.66 and a two-hundred day moving average of $140.48. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $7.05 billion, a P/E ratio of 15.60 and a beta of 1.30. Ryder System has a one year low of $105.09 and a one year high of $171.78.

Ryder System (NYSE:R) last issued its earnings results on Thursday, October 24th. The transportation company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.39 by $0.05. Ryder System had a return on equity of 16.78% and a net margin of 3.83%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the firm earned $3.58 earnings per share. Ryder System’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts predict that Ryder System will post 12.01 EPS for the current year.

Ryder System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $3.24 dividend on an annualized basis and a yield of 1.94%. Ryder System’s payout ratio is 30.31%.

Insiders Place Their Bets

In other news, insider Thomas M. Havens sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $157.44, for a total transaction of $629,760.00. Following the completion of the sale, the insider now owns 20,504 shares of the company’s stock, valued at $3,228,149.76. The trade was a 16.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ryder System

Several institutional investors have recently bought and sold shares of R. Wolff Wiese Magana LLC purchased a new stake in shares of Ryder System during the third quarter worth $28,000. Wilmington Savings Fund Society FSB purchased a new stake in Ryder System during the 3rd quarter valued at about $34,000. Altshuler Shaham Ltd acquired a new stake in Ryder System in the 2nd quarter valued at about $29,000. UMB Bank n.a. lifted its stake in Ryder System by 43.2% in the 3rd quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock worth $39,000 after purchasing an additional 80 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Ryder System during the 2nd quarter worth approximately $51,000. 87.47% of the stock is currently owned by institutional investors and hedge funds.

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.