Ryder System, Inc. (R) Raised to Overweight at KeyCorp
KeyCorp upgraded shares of Ryder System, Inc. (NYSE:R) from a sector weight rating to an overweight rating in a research note released on Wednesday, Marketbeat Ratings reports. KeyCorp also issued estimates for Ryder System’s FY2018 earnings at $5.35 EPS.
A number of other brokerages have also recently weighed in on R. ValuEngine upgraded Ryder System from a hold rating to a buy rating in a research report on Tuesday, June 27th. BidaskClub upgraded Ryder System from a hold rating to a buy rating in a research report on Wednesday, June 28th. Buckingham Research initiated coverage on Ryder System in a research report on Monday, August 21st. They issued a buy rating and a $85.00 price target for the company. Zacks Investment Research cut Ryder System from a buy rating to a hold rating in a research report on Thursday, July 27th. Finally, Stifel Nicolaus restated a hold rating and issued a $68.00 price target on shares of Ryder System in a research report on Tuesday, September 5th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ryder System currently has a consensus rating of Buy and a consensus price target of $77.17.
Shares of Ryder System (R) opened at 79.46 on Wednesday. The company has a 50-day moving average of $75.01 and a 200 day moving average of $72.21. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 19.13 and a beta of 1.37. Ryder System has a one year low of $62.03 and a one year high of $85.42.
Ryder System (NYSE:R) last released its earnings results on Wednesday, July 26th. The transportation company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.07. Ryder System had a return on equity of 11.71% and a net margin of 3.17%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $1.56 earnings per share. Ryder System’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Ryder System will post $4.45 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, August 21st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, August 17th. This is a boost from Ryder System’s previous quarterly dividend of $0.44. Ryder System’s dividend payout ratio (DPR) is currently 44.12%.
In related news, CEO Robert E. Sanchez sold 26,275 shares of Ryder System stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.43, for a total transaction of $1,903,098.25. Following the completion of the sale, the chief executive officer now owns 107,237 shares in the company, valued at approximately $7,767,175.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John S. Sensing sold 4,502 shares of Ryder System stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $73.01, for a total value of $328,691.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,427 shares of company stock valued at $2,933,827. 1.95% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. BlueMountain Capital Management LLC purchased a new stake in Ryder System in the 2nd quarter valued at about $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ryder System by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock valued at $141,000 after buying an additional 156 shares during the period. JFS Wealth Advisors LLC grew its holdings in Ryder System by 1.1% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,160 shares of the transportation company’s stock valued at $156,000 after buying an additional 24 shares during the period. LS Investment Advisors LLC grew its holdings in Ryder System by 28.8% in the 1st quarter. LS Investment Advisors LLC now owns 2,473 shares of the transportation company’s stock valued at $187,000 after buying an additional 553 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in Ryder System by 94.7% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock valued at $183,000 after buying an additional 1,240 shares during the period. Hedge funds and other institutional investors own 89.54% of the company’s stock.
About Ryder System
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 leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally 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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