Ryder System Inc. (R) Shares Gap Up to $61.29
Shares of Ryder System Inc. (NYSE:R) gapped up prior to trading on Thursday . The stock had previously closed at $61.16, but opened at $61.29. Ryder System shares last traded at $61.95, with a volume of 362,175 shares trading hands.
Several analysts have recently weighed in on R shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $73.00 target price (down previously from $76.00) on shares of Ryder System in a report on Sunday, May 22nd. TheStreet raised shares of Ryder System from a “hold” rating to a “buy” rating in a report on Tuesday, March 22nd. Robert W. Baird reaffirmed a “buy” rating on shares of Ryder System in a report on Monday, June 13th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Ryder System in a report on Monday, June 13th. Finally, Zacks Investment Research downgraded shares of Ryder System from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Ryder System currently has a consensus rating of “Buy” and a consensus price target of $84.50.
The firm has a market capitalization of $3.47 billion and a P/E ratio of 11.23. The stock has a 50-day moving average price of $65.42 and a 200 day moving average price of $61.42.
Ryder System (NYSE:R) last issued its earnings results on Tuesday, April 26th. The company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.07. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that Ryder System Inc. will post $6.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Monday, May 23rd were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.54%.
In other Ryder System news, CEO Robert E. Sanchez sold 37,550 shares of the stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $68.05, for a total transaction of $2,555,277.50. Following the sale, the chief executive officer now directly owns 102,728 shares of the company’s stock, valued at $6,990,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Karen M. Jones sold 9,413 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $70.10, for a total transaction of $659,851.30. Following the sale, the chief marketing officer now directly owns 16,413 shares in the company, valued at $1,150,551.30. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. GAM Holding AG raised its position in Ryder System by 14.8% in the fourth quarter. GAM Holding AG now owns 46,500 shares of the company’s stock valued at $2,643,000 after buying an additional 6,000 shares in the last quarter. Usca Ria LLC raised its position in Ryder System by 66.5% in the fourth quarter. Usca Ria LLC now owns 20,587 shares of the company’s stock valued at $1,170,000 after buying an additional 8,224 shares in the last quarter. Artemis Investment Management LLP raised its position in Ryder System by 86.0% in the fourth quarter. Artemis Investment Management LLP now owns 1,299,486 shares of the company’s stock valued at $73,844,000 after buying an additional 600,964 shares in the last quarter. Comerica Bank raised its position in Ryder System by 63.0% in the fourth quarter. Comerica Bank now owns 22,081 shares of the company’s stock valued at $1,116,000 after buying an additional 8,535 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Ryder System by 27.0% in the fourth quarter. ProShare Advisors LLC now owns 29,377 shares of the company’s stock valued at $1,669,000 after buying an additional 6,248 shares in the last quarter.
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides full service leasing, commercial rental, contract maintenance and contract-related maintenance of trucks, tractors and trailers to customers in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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