Ryder System, Inc. (NYSE:R) Short Interest Down 22.0% in January

Ryder System, Inc. (NYSE:R) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 699,783 shares, a drop of 22.0% from the December 31st total of 896,696 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 336,513 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily trading volume, of 336,513 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.8% of the shares of the company are sold short.

Institutional Trading of Ryder System

Several institutional investors and hedge funds have recently bought and sold shares of R. Royal Bank of Canada increased its stake in shares of Ryder System by 52.8% in the first quarter. Royal Bank of Canada now owns 15,765 shares of the transportation company’s stock worth $2,267,000 after acquiring an additional 5,448 shares during the period. Focus Partners Wealth boosted its holdings in Ryder System by 7.9% in the first quarter. Focus Partners Wealth now owns 1,851 shares of the transportation company’s stock valued at $266,000 after purchasing an additional 135 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Ryder System by 61.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 287 shares of the transportation company’s stock worth $41,000 after purchasing an additional 109 shares during the period. Signaturefd LLC grew its position in Ryder System by 25.0% during the 2nd quarter. Signaturefd LLC now owns 739 shares of the transportation company’s stock worth $118,000 after purchasing an additional 148 shares during the period. Finally, Truist Financial Corp raised its stake in shares of Ryder System by 16.0% during the 2nd quarter. Truist Financial Corp now owns 20,670 shares of the transportation company’s stock valued at $3,287,000 after buying an additional 2,857 shares during the last quarter. 87.47% of the stock is currently owned by institutional investors and hedge funds.

Ryder System Stock Performance

Ryder System stock traded down $0.28 during trading hours on Tuesday, hitting $202.80. 722,269 shares of the stock traded hands, compared to its average volume of 299,536. The firm’s 50 day moving average price is $189.83 and its 200-day moving average price is $182.95. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 17.13 and a beta of 0.96. Ryder System has a 1 year low of $125.54 and a 1 year high of $210.10.

Analyst Upgrades and Downgrades

A number of brokerages have commented on R. Wells Fargo & Company started coverage on shares of Ryder System in a report on Friday, December 5th. They set an “overweight” rating and a $210.00 target price for the company. Morgan Stanley upped their price objective on Ryder System from $190.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. lifted their target price on Ryder System from $194.00 to $197.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Wolfe Research reissued a “peer perform” rating on shares of Ryder System in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ryder System in a research note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Ryder System currently has an average rating of “Moderate Buy” and a consensus target price of $205.67.

Ryder System Company Profile

Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company’s Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.

Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.