Ryder System Inc. (R) Shares Down 6.5%
Ryder System Inc. (NYSE:R) shares were down 6.5% during mid-day trading on Wednesday . The stock traded as low as $64.55 and last traded at $65.24, with a volume of 1,051,377 shares. The stock had previously closed at $69.76.
R has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Ryder System from a “hold” rating to a “sell” rating in a report on Tuesday, April 5th. Stifel Nicolaus restated a “buy” rating and issued a $73.00 price target (down from $76.00) on shares of Ryder System in a report on Sunday, May 22nd. Royal Bank Of Canada restated a “hold” rating on shares of Ryder System in a report on Monday, June 13th. Finally, Robert W. Baird restated a “buy” rating on shares of Ryder System in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Ryder System presently has a consensus rating of “Buy” and an average price target of $84.50.
The firm has a market capitalization of $3.46 billion and a P/E ratio of 11.21. The stock has a 50-day moving average price of $65.21 and a 200-day moving average price of $62.48.
Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.02. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Ryder System Inc. will post $6.13 earnings per share for the current fiscal year.
The firm 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 dividend of $0.44 per share. This is an increase from Ryder System’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, August 18th. This represents a $1.76 dividend on an annualized basis and a yield of 2.73%.
In related news, CMO Karen M. Jones sold 9,413 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $2,555,277.50. Following the sale, 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 have recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its stake in 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 during the last quarter. Marshall Wace LLP purchased a new stake in Ryder System during the fourth quarter worth $7,354,000. Trexquant Investment LP raised 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 during the last quarter. GSA Capital Partners LLP raised 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 during the last quarter. Finally, Comerica Bank raised its stake in Ryder System by 63.0% in the fourth quarter. Comerica Bank now owns 22,081 shares of the company’s stock worth $1,116,000 after buying an additional 8,535 shares during 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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