Ryder System (NYSE:R) Reaches New 12-Month High – What’s Next?

Ryder System, Inc. (NYSE:R)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $172.18 and last traded at $166.22, with a volume of 199224 shares. The stock had previously closed at $170.03.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on R. JPMorgan Chase & Co. lowered their target price on Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. StockNews.com downgraded Ryder System from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.57.

Ryder System Price Performance

The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 15.56 and a beta of 1.30. The company has a fifty day simple moving average of $154.23 and a two-hundred day simple moving average of $138.85.

Ryder System (NYSE:R) last released its quarterly earnings results on Thursday, October 24th. The transportation company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.39 by $0.05. Ryder System had a return on equity of 16.78% and a net margin of 3.83%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the company posted $3.58 EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts expect that Ryder System, Inc. will post 12.01 earnings per share for the current fiscal year.

Ryder System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, November 18th. Ryder System’s payout ratio is 30.31%.

Insider Transactions at Ryder System

In related news, insider Thomas M. Havens sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $157.44, for a total transaction of $629,760.00. Following the transaction, the insider now owns 20,504 shares in the company, valued at $3,228,149.76. The trade was a 16.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Ryder System

Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of Ryder System by 14.3% in the 3rd quarter. Franklin Resources Inc. now owns 136,781 shares of the transportation company’s stock worth $20,724,000 after purchasing an additional 17,074 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Ryder System in the 3rd quarter worth about $34,000. Sanctuary Advisors LLC raised its position in Ryder System by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,826 shares of the transportation company’s stock worth $1,141,000 after purchasing an additional 131 shares during the period. TD Private Client Wealth LLC raised its position in Ryder System by 18.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,056 shares of the transportation company’s stock worth $154,000 after purchasing an additional 163 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Ryder System by 0.8% during the third quarter. Geode Capital Management LLC now owns 722,689 shares of the transportation company’s stock worth $105,397,000 after acquiring an additional 5,860 shares during the period. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

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.