Short Interest in Ryder System, Inc. (NYSE:R) Declines By 24.8%

Ryder System, Inc. (NYSE:R) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 684,700 shares, a decrease of 24.8% from the November 15th total of 910,700 shares. Based on an average trading volume of 267,300 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.7% of the shares of the company are sold short.

Ryder System Stock Performance

NYSE:R opened at $166.73 on Friday. Ryder System has a fifty-two week low of $105.09 and a fifty-two week high of $171.78. The firm’s 50 day moving average is $156.66 and its two-hundred day moving average is $140.48. The company has a market cap of $7.05 billion, a P/E ratio of 15.60 and a beta of 1.30. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.17.

Ryder System (NYSE:R) last issued its earnings results on Thursday, October 24th. The transportation company reported $3.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the previous year, the business earned $3.58 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Ryder System will post 12.01 EPS for the current year.

Ryder System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, November 18th will be given a dividend of $0.81 per share. The ex-dividend date is Monday, November 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.94%. Ryder System’s payout ratio is currently 30.31%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group upped their target price on shares of Ryder System from $160.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.43.

Insider Transactions at Ryder System

In related news, insider Thomas M. Havens sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $157.44, for a total value of $629,760.00. Following the transaction, the insider now owns 20,504 shares in the company, valued at $3,228,149.76. The trade was a 16.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Ryder System

A number of institutional investors have recently added to or reduced their stakes in R. DGS Capital Management LLC purchased a new position in shares of Ryder System during the 3rd quarter valued at approximately $208,000. Franklin Resources Inc. boosted its stake in Ryder System by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 136,781 shares of the transportation company’s stock valued at $20,724,000 after acquiring an additional 17,074 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ryder System during the 3rd quarter valued at $34,000. Sanctuary Advisors LLC grew its holdings in Ryder System by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,826 shares of the transportation company’s stock worth $1,141,000 after acquiring an additional 131 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of Ryder System by 18.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,056 shares of the transportation company’s stock valued at $154,000 after purchasing an additional 163 shares in the last quarter. Institutional investors and hedge funds 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.