The Goldman Sachs Group Increases Ryder System (NYSE:R) Price Target to $135.00

Ryder System (NYSE:R) had its price objective raised by equities research analysts at The Goldman Sachs Group from $122.00 to $135.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 12.50% from the stock’s previous close.

R has been the topic of several other reports. Vertical Research downgraded shares of Ryder System from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Wednesday, January 10th. JPMorgan Chase & Co. raised their price target on shares of Ryder System from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird restated a “buy” rating and set a $140.00 price target on shares of Ryder System in a report on Wednesday, January 3rd. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Finally, Wells Fargo & Company raised their price target on shares of Ryder System from $100.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $123.71.

Ryder System Price Performance

Ryder System stock traded down $2.01 during trading hours on Wednesday, hitting $120.00. 118,341 shares of the company traded hands, compared to its average volume of 258,015. The firm has a market cap of $5.31 billion, a P/E ratio of 13.85 and a beta of 1.40. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.80. The firm’s 50-day simple moving average is $114.26 and its two-hundred day simple moving average is $110.58. Ryder System has a 1-year low of $76.15 and a 1-year high of $122.94.

Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.43. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.81 EPS. As a group, analysts forecast that Ryder System will post 11.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO Karen M. Jones sold 7,737 shares of Ryder System stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the transaction, the chief marketing officer now owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Ryder System

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its holdings in Ryder System by 33.9% in the 3rd quarter. CWM LLC now owns 438 shares of the transportation company’s stock valued at $47,000 after buying an additional 111 shares during the period. SG Americas Securities LLC boosted its stake in shares of Ryder System by 331.2% in the 3rd quarter. SG Americas Securities LLC now owns 9,280 shares of the transportation company’s stock valued at $992,000 after purchasing an additional 7,128 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Ryder System by 406.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 406 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Ryder System in the 3rd quarter valued at $243,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Ryder System by 95.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,026 shares of the transportation company’s stock valued at $751,000 after purchasing an additional 3,426 shares in the last quarter. Institutional investors own 87.47% of the company’s stock.

About Ryder System

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.