Ryder System Inc. (R) Shares Gap Up to $61.29
Ryder System Inc. (NYSE:R)’s share price gapped up before the market opened 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 equities analysts recently weighed in on R shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $73.00 price objective (up previously from $54.00) on shares of Ryder System in a research report on Wednesday, April 27th. Zacks Investment Research lowered shares of Ryder System from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. Robert W. Baird reaffirmed a “buy” rating on shares of Ryder System in a research report on Monday, June 13th. TheStreet raised shares of Ryder System from a “hold” rating to a “buy” rating in a research report on Tuesday, March 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 price objective (down previously from $76.00) on shares of Ryder System in a research report on Sunday, May 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Ryder System currently has an average rating of “Buy” and a consensus price target of $84.50.
The stock has a 50 day moving average of $65.48 and a 200 day moving average of $61.34. The company has a market cap of $3.34 billion and a price-to-earnings ratio of 10.79.
Ryder System (NYSE:R) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.07. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The business earned $1.63 billion during the quarter, compared to analyst estimates of $1.60 billion. Ryder System’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts expect that Ryder System Inc. will post $6.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Monday, May 23rd were given a $0.41 dividend. The ex-dividend date was Thursday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 2.64%.
In other Ryder System news, CMO Karen M. Jones sold 9,413 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert E. Sanchez sold 37,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $68.05, for a total value of $2,555,277.50. Following the transaction, the chief executive officer now directly owns 102,728 shares of the company’s stock, valued at approximately $6,990,640.40. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. Wesbanco Bank Inc. increased its position in Ryder System by 0.6% in the fourth quarter. Wesbanco Bank Inc. now owns 18,561 shares of the company’s stock worth $1,055,000 after buying an additional 106 shares during the period. Rhumbline Advisers increased its position in Ryder System by 1.0% in the fourth quarter. Rhumbline Advisers now owns 75,584 shares of the company’s stock worth $4,295,000 after buying an additional 730 shares during the period. Stoneridge Investment Partners LLC increased its position in Ryder System by 4.0% in the fourth quarter. Stoneridge Investment Partners LLC now owns 40,749 shares of the company’s stock worth $2,316,000 after buying an additional 1,550 shares during the period. California State Teachers Retirement System increased its position in Ryder System by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 101,955 shares of the company’s stock worth $5,794,000 after buying an additional 1,586 shares during the period. Finally, Bank of Montreal Can increased its position 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 during the period.
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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