Ryder System (NYSE:R) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Ryder System (NYSE:R) in a report issued on Monday morning, Marketbeat reports. The brokerage issued an overweight rating and a $165.00 target price on the transportation company’s stock.

Several other equities analysts have also recently weighed in on R. Stephens raised their price target on Ryder System from $113.00 to $120.00 and gave the company an equal weight rating in a report on Wednesday, April 24th. Vertical Research upgraded Ryder System from a hold rating to a buy rating and lifted their target price for the stock from $125.00 to $145.00 in a report on Friday, June 14th. The Goldman Sachs Group lifted their target price on Ryder System from $122.00 to $135.00 and gave the stock a buy rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their target price on Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Finally, StockNews.com upgraded Ryder System from a hold rating to a buy rating in a report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $135.86.

Ryder System Stock Up 3.3 %

R stock opened at $125.05 on Monday. Ryder System has a fifty-two week low of $82.26 and a fifty-two week high of $128.85. The business’s 50-day moving average is $121.15 and its two-hundred day moving average is $116.65. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 16.28 and a beta of 1.32.

Ryder System (NYSE:R) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the company earned $2.81 earnings per share. Ryder System’s revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Ryder System will post 12.1 earnings per share for the current year.

Ryder System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, May 20th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.27%. Ryder System’s dividend payout ratio is presently 36.98%.

Insider Activity

In other news, insider Thomas M. Havens sold 8,000 shares of Ryder System stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $119.40, for a total value of $955,200.00. Following the transaction, the insider now directly owns 24,401 shares in the company, valued at approximately $2,913,479.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Sanford J. Hodes sold 3,360 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.59, for a total transaction of $421,982.40. Following the transaction, the senior vice president now directly owns 24,119 shares in the company, valued at approximately $3,029,105.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas M. Havens sold 8,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $119.40, for a total value of $955,200.00. Following the transaction, the insider now owns 24,401 shares in the company, valued at $2,913,479.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,800 shares of company stock worth $11,990,862. 5.10% of the stock is currently owned by company insiders.

Institutional Trading of Ryder System

Several large investors have recently added to or reduced their stakes in the company. Keynote Financial Services LLC purchased a new stake in Ryder System during the 1st quarter valued at about $306,000. Cetera Investment Advisers grew its stake in Ryder System by 405.3% during the 1st quarter. Cetera Investment Advisers now owns 16,291 shares of the transportation company’s stock valued at $1,958,000 after purchasing an additional 13,067 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Ryder System by 27.6% in the 1st quarter. EMC Capital Management now owns 5,258 shares of the transportation company’s stock valued at $632,000 after buying an additional 1,138 shares during the period. Comerica Bank lifted its holdings in shares of Ryder System by 2.1% in the 1st quarter. Comerica Bank now owns 28,763 shares of the transportation company’s stock valued at $3,457,000 after buying an additional 579 shares during the period. Finally, Redwood Investment Management LLC lifted its holdings in shares of Ryder System by 2.4% in the 1st quarter. Redwood Investment Management LLC now owns 12,563 shares of the transportation company’s stock valued at $1,510,000 after buying an additional 296 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Ryder System Company Profile

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.