Ryder System Inc. (R) Shares Gap Down to $65.57
Shares of Ryder System Inc. (NYSE:R) gapped down prior to trading on Tuesday . The stock had previously closed at $65.18, but opened at $65.57. Ryder System shares last traded at $67.24, with a volume of 343,738 shares traded.
Several analysts have commented on R shares. TheStreet raised shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, March 22nd. Zacks Investment Research lowered shares of Ryder System from a “hold” rating to a “sell” rating in a report on Tuesday, April 5th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $73.00 price target (up previously from $54.00) on shares of Ryder System in a report on Wednesday, April 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $73.00 price target (down previously from $76.00) on shares of Ryder System in a report on Sunday, May 22nd. Finally, Robert W. Baird reiterated a “buy” rating on shares of Ryder System in a report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Ryder System has an average rating of “Buy” and a consensus price target of $84.50.
The firm has a market cap of $3.60 billion and a price-to-earnings ratio of 11.65. The firm’s 50-day moving average is $65.34 and its 200-day moving average is $61.58.
Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, April 26th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Ryder System Inc. will post $6.15 earnings per share for the current fiscal year.
The company also recently disclosed 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 annualized dividend and a yield of 2.50%.
In other news, CMO Karen M. Jones sold 9,413 shares of Ryder System stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $70.10, for a total value of $659,851.30. Following the transaction, the chief marketing officer now directly owns 16,413 shares in the company, valued at approximately $1,150,551.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert E. Sanchez sold 37,550 shares of Ryder System stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $68.05, for a total value of $2,555,277.50. Following the completion of the transaction, the chief executive officer now owns 102,728 shares in the company, valued at $6,990,640.40. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently made changes to their positions in the stock. Artemis Investment Management LLP increased its position in shares of Ryder System by 86.0% in the fourth quarter. Artemis Investment Management LLP now owns 1,299,486 shares of the company’s stock worth $73,844,000 after buying an additional 600,964 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Ryder System by 76.4% in the fourth quarter. Schroder Investment Management Group now owns 806,794 shares of the company’s stock worth $45,850,000 after buying an additional 349,300 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Ryder System during the fourth quarter worth about $7,354,000. LSV Asset Management increased its position in shares of Ryder System by 42.4% in the fourth quarter. LSV Asset Management now owns 327,271 shares of the company’s stock worth $18,598,000 after buying an additional 97,514 shares in the last quarter. Finally, Russell Frank Co increased its position in shares of Ryder System by 84.8% in the fourth quarter. Russell Frank Co now owns 135,646 shares of the company’s stock worth $7,680,000 after buying an additional 62,237 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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