Robert W. Baird Boosts Ryder System (NYSE:R) Price Target to $118.00

Posted by Defense World Staff on Jul 31st, 2023

Ryder System (NYSE:R – Free Report) had its target price boosted by Robert W. Baird from $102.00 to $118.00 in a research report sent to investors on Thursday morning, FlyOnTheWall reports.

A number of other equities research analysts also recently commented on R. Wells Fargo & Company lifted their target price on Ryder System from $80.00 to $100.00 in a report on Thursday. StockNews.com initiated coverage on Ryder System in a research report on Thursday, May 18th. They set a buy rating for the company. Finally, Stifel Nicolaus cut their price objective on Ryder System from $107.00 to $105.00 in a research report on Thursday, April 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $104.60.

Ryder System Stock Performance

R stock opened at $101.13 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 1.68. The business’s fifty day simple moving average is $84.85 and its two-hundred day simple moving average is $87.69. Ryder System has a twelve month low of $65.69 and a twelve month high of $102.36. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 8.76 and a beta of 1.56.

Ryder System (NYSE:R – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $3.61 EPS for the quarter, beating the consensus estimate of $2.97 by $0.64. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $3.05 billion. Ryder System had a return on equity of 23.98% and a net margin of 4.79%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.43 earnings per share. Analysts predict that Ryder System will post 12.45 earnings per share for the current year.

Ryder System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, August 18th. This represents a $2.84 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Ryder System’s previous quarterly dividend of $0.62. Ryder System’s payout ratio is 21.49%.

Insiders Place Their Bets

In other Ryder System news, Director Luis P. Nieto, Jr. sold 2,112 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $83.29, for a total transaction of $175,908.48. Following the transaction, the director now owns 27,779 shares of the company’s stock, valued at $2,313,712.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director E Follin Smith sold 1,044 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $82.47, for a total value of $86,098.68. Following the transaction, the director now owns 41,184 shares of the company’s stock, valued at approximately $3,396,444.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Luis P. Nieto, Jr. sold 2,112 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $83.29, for a total value of $175,908.48. Following the transaction, the director now directly owns 27,779 shares in the company, valued at approximately $2,313,712.91. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ryder System

A number of hedge funds and other institutional investors have recently bought and sold shares of R. JPMorgan Chase & Co. boosted its holdings in Ryder System by 13.6% during the 1st quarter. JPMorgan Chase & Co. now owns 193,131 shares of the transportation company’s stock valued at $15,322,000 after acquiring an additional 23,111 shares during the period. Cetera Advisor Networks LLC purchased a new position in Ryder System during the 1st quarter valued at about $290,000. MetLife Investment Management LLC raised its position in Ryder System by 33.3% in the 1st quarter. MetLife Investment Management LLC now owns 34,694 shares of the transportation company’s stock valued at $2,752,000 after purchasing an additional 8,674 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Ryder System by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,678 shares of the transportation company’s stock valued at $1,561,000 after purchasing an additional 1,876 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Ryder System by 12.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 32,930 shares of the transportation company’s stock valued at $2,691,000 after purchasing an additional 3,652 shares in the last quarter. 85.56% of the stock is currently owned by hedge funds and other institutional investors.

About Ryder System

(Get Free Report)

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.