Ryder System Inc. (R) Shares Gap Up to $63.82
Shares of Ryder System Inc. (NYSE:R) 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.
R has been the subject of several recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $73.00 target price (up from $54.00) on shares of Ryder System in a research report on Wednesday, April 27th. Zacks Investment Research cut shares of Ryder System from a “hold” rating to a “sell” rating in a research note on Tuesday, April 19th. Robert W. Baird restated a “buy” rating on shares of Ryder System in a research note on Monday, June 13th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $73.00 price objective (down from $76.00) on shares of Ryder System in a research note on Sunday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $84.50.
The company has a market capitalization of $3.51 billion and a PE ratio of 11.86. The company’s 50-day moving average is $64.82 and its 200-day moving average is $63.04.
Ryder System (NYSE:R) last announced its earnings results on Wednesday, July 27th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.54 by $0.02. The company 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% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. On average, equities analysts predict that Ryder System Inc. will post $5.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Monday, August 22nd will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, August 18th. This is a positive change from Ryder System’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.68%.
In other news, CMO Karen M. Jones sold 9,413 shares of the firm’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 completion of the transaction, the chief marketing officer now directly owns 16,413 shares of the company’s stock, valued at approximately $1,150,551.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert E. Sanchez sold 37,550 shares of the firm’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 transaction, the chief executive officer now directly owns 102,728 shares of the company’s stock, valued at $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. Schroder Investment Management Group boosted its position in Ryder System by 76.4% in the fourth quarter. Schroder Investment Management Group now owns 806,794 shares of the company’s stock valued at $45,850,000 after buying an additional 349,300 shares in the last quarter. Marshall Wace LLP purchased a new position in Ryder System during the fourth quarter valued at $7,354,000. Trexquant Investment LP boosted its position in Ryder System by 287.9% in the fourth quarter. Trexquant Investment LP now owns 45,000 shares of the company’s stock valued at $2,557,000 after buying an additional 33,400 shares in the last quarter. Bank of Montreal Can boosted 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 valued at $1,922,000 after buying an additional 2,095 shares in the last quarter. Finally, Comerica Bank boosted its position 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.
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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