Ryder System Inc. (R) Shares Gap Up to $63.82
Ryder System Inc. (NYSE:R)’s share price gapped up prior to trading on Friday . The stock had previously closed at $63.18, but opened at $63.82. Ryder System shares last traded at $65.47, with a volume of 391,833 shares traded.
R has been the topic of several research reports. 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. Zacks Investment Research downgraded shares of Ryder System from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Royal Bank Of Canada reiterated a “hold” rating on shares of Ryder System in a report on Monday, June 13th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Ryder System in a report on Monday, June 13th. One equities 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 given a strong buy rating to the company’s stock. Ryder System has a consensus rating of “Buy” and an average price target of $84.50.
The stock’s 50-day moving average price is $64.82 and its 200 day moving average price is $63.04. The firm has a market cap of $3.51 billion and a PE ratio of 11.86.
Ryder System (NYSE:R) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.02. During the same quarter in the prior year, the firm posted $1.65 EPS. The firm earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Ryder System’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts expect that Ryder System Inc. will post $5.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Monday, August 22nd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from Ryder System’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, August 18th.
In other news, CMO Karen M. Jones sold 9,413 shares of the business’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 value of $659,851.30. Following the transaction, the chief marketing officer now owns 16,413 shares of the company’s stock, valued at $1,150,551.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert E. Sanchez sold 37,550 shares of the company’s stock in a transaction 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 in the company, valued at approximately $6,990,640.40. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Schroder Investment Management Group raised 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 acquired a new position in shares of Ryder System during the fourth quarter worth $7,354,000. Trexquant Investment LP raised its position in shares of 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. GSA Capital Partners LLP raised its position in shares of 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. Finally, Comerica Bank raised its position in shares of 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 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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