Ryder System (NYSE:R) Sets New 52-Week High – Still a Buy?

Ryder System, Inc. (NYSE:R)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $167.76 and last traded at $167.67, with a volume of 38788 shares changing hands. The stock had previously closed at $164.26.

Wall Street Analyst Weigh In

Several research firms have weighed in on R. JPMorgan Chase & Co. cut 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 report on Tuesday, October 29th. Finally, Robert W. Baird increased their price objective on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.57.

Ryder System Price Performance

The firm has a market cap of $7.01 billion, a P/E ratio of 15.50 and a beta of 1.28. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.17. The business has a 50-day moving average of $147.28 and a two-hundred day moving average of $134.85.

Ryder System (NYSE:R) last announced its earnings results on Thursday, October 24th. The transportation company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.39 by $0.05. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.29 billion. Ryder System had a return on equity of 16.78% and a net margin of 3.83%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.58 EPS. On average, sell-side analysts anticipate that Ryder System, Inc. will post 12.01 earnings per share for the current fiscal year.

Ryder System Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Ryder System

Several institutional investors have recently made changes to their positions in R. Allspring Global Investments Holdings LLC increased its stake in Ryder System by 120.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,437 shares of the transportation company’s stock valued at $413,000 after acquiring an additional 1,880 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Ryder System by 73.0% during the first quarter. Janney Montgomery Scott LLC now owns 4,717 shares of the transportation company’s stock valued at $567,000 after buying an additional 1,990 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Ryder System during the first quarter valued at about $204,000. Russell Investments Group Ltd. grew its stake in shares of Ryder System by 15.7% during the first quarter. Russell Investments Group Ltd. now owns 47,957 shares of the transportation company’s stock valued at $5,763,000 after buying an additional 6,523 shares during the last quarter. Finally, Avantax Advisory Services Inc. bought a new position in shares of Ryder System during the first quarter valued at about $202,000. Hedge funds and other 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.