Ryder System Inc. (R) Shares Down 4.2%
Ryder System Inc. (NYSE:R) shares dropped 4.2% on Tuesday . The stock traded as low as $62.37 and last traded at $62.39, with a volume of 509,421 shares trading hands. The stock had previously closed at $65.15.
R has been the topic of a number of recent research reports. Zacks Investment Research downgraded Ryder System from a “hold” rating to a “sell” rating in a research note on Wednesday, April 13th. Royal Bank Of Canada restated a “sector perform” rating and issued a $73.00 target price (up previously from $54.00) on shares of Ryder System in a research note on Wednesday, April 27th. Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price (down previously from $76.00) on shares of Ryder System in a research note on Sunday, May 22nd. Finally, Robert W. Baird restated a “buy” rating on shares of Ryder System in a research note on Monday, June 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $84.50.
The firm has a market capitalization of $3.36 billion and a PE ratio of 11.33. The firm’s 50 day moving average is $64.88 and its 200 day moving average is $62.91.
Ryder System (NYSE:R) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.02. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 EPS. Analysts forecast that Ryder System Inc. will post $6.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Monday, August 22nd will be paid a $0.44 dividend. This is a boost from Ryder System’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, August 18th.
In other Ryder System news, CMO Karen M. Jones sold 9,413 shares of Ryder System stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $70.10, for a total value of $659,851.30. Following the sale, the chief marketing officer now owns 16,413 shares of the company’s stock, valued at approximately $1,150,551.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert E. Sanchez sold 37,550 shares of Ryder System stock in a transaction dated 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 sale, the chief executive officer now directly owns 102,728 shares in the company, valued at approximately $6,990,640.40. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake 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. GSA Capital Partners LLP increased its stake in Ryder System by 230.4% in the fourth quarter. GSA Capital Partners LLP now owns 26,567 shares of the company’s stock worth $1,510,000 after buying an additional 18,527 shares in the last quarter. Bank of Montreal Can increased its stake in Ryder System by 6.6% in the fourth quarter. Bank of Montreal Can now owns 33,813 shares of the company’s stock worth $1,922,000 after buying an additional 2,095 shares in the last quarter. Trexquant Investment LP increased its stake in Ryder System by 287.9% in the fourth quarter. Trexquant Investment LP now owns 45,000 shares of the company’s stock worth $2,557,000 after buying an additional 33,400 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Ryder System during the fourth quarter worth about $7,354,000.
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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