Ryder System (NYSE:R) Price Target Raised to $183.00

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

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

Ryder System Trading Down 0.6 %

NYSE:R opened at $165.67 on Thursday. The company has a market cap of $7.01 billion, a P/E ratio of 15.50 and a beta of 1.30. Ryder System has a 1 year low of $106.62 and a 1 year high of $171.78. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.74 and a quick ratio of 0.74. The stock’s fifty day moving average price is $157.10 and its two-hundred day moving average price is $140.92.

Ryder System (NYSE:R) last issued its earnings results on Thursday, October 24th. The transportation company reported $3.44 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $3.29 billion. During the same quarter last year, the company earned $3.58 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts expect that Ryder System will post 12.01 EPS for the current year.

Ryder System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, November 18th will be paid a $0.81 dividend. The ex-dividend date is Monday, November 18th. This represents a $3.24 dividend on an annualized basis and a yield of 1.96%. Ryder System’s dividend payout ratio (DPR) is currently 30.31%.

Insider Buying and Selling at Ryder System

In related news, insider Thomas M. Havens sold 4,000 shares of the firm’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 sale, the insider now directly owns 20,504 shares of the company’s stock, valued at $3,228,149.76. This trade represents 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 through this link. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Ryder System

A number of hedge funds and other institutional investors have recently made changes to their positions in R. UMB Bank n.a. boosted its position in Ryder System by 43.2% during the 3rd quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 80 shares in the last quarter. Truist Financial Corp grew its stake in shares of Ryder System by 0.6% in the 2nd quarter. Truist Financial Corp now owns 14,303 shares of the transportation company’s stock worth $1,772,000 after buying an additional 90 shares during the last quarter. MML Investors Services LLC increased its position in Ryder System by 4.7% during the 3rd quarter. MML Investors Services LLC now owns 2,078 shares of the transportation company’s stock valued at $303,000 after buying an additional 94 shares in the last quarter. Buckley Wealth Management LLC raised its stake in Ryder System by 1.1% during the third quarter. Buckley Wealth Management LLC now owns 9,660 shares of the transportation company’s stock valued at $1,408,000 after buying an additional 105 shares during the last quarter. Finally, CWM LLC boosted its holdings in Ryder System by 17.9% in the second quarter. CWM LLC now owns 758 shares of the transportation company’s stock worth $94,000 after acquiring an additional 115 shares in the last quarter. 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.