Ryder System (NYSE:R) Sets New 52-Week High – Here’s Why

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

Wall Street Analysts Forecast Growth

R has been the subject of several research analyst reports. StockNews.com lowered shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Robert W. Baird raised their target price on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. dropped their price target on Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.57.

Ryder System Stock Performance

The business’s fifty day moving average price is $146.10 and its 200-day moving average price is $134.40. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $7.12 billion, a PE ratio of 15.66 and a beta of 1.28.

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

Ryder System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, November 18th will be paid a $0.81 dividend. The ex-dividend date is Monday, November 18th. This represents a $3.24 dividend on an annualized basis and a yield of 1.92%. Ryder System’s dividend payout ratio is currently 30.31%.

Insider Activity

In related news, insider Thomas M. Havens sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $157.44, for a total value of $629,760.00. Following the completion of the transaction, the insider now directly owns 20,504 shares in the company, valued at approximately $3,228,149.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Ryder System

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Ryder System by 56.2% during the third quarter. FMR LLC now owns 781,519 shares of the transportation company’s stock valued at $113,945,000 after acquiring an additional 281,052 shares during the last quarter. Vanguard Group Inc. raised its position in Ryder System by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock valued at $627,800,000 after purchasing an additional 109,930 shares during the last quarter. Millennium Management LLC lifted its holdings in Ryder System by 1,915.0% in the 2nd quarter. Millennium Management LLC now owns 103,935 shares of the transportation company’s stock worth $12,875,000 after buying an additional 98,777 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Ryder System by 242.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 92,666 shares of the transportation company’s stock worth $11,138,000 after buying an additional 65,609 shares during the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Ryder System by 3.4% during the second quarter. Earnest Partners LLC now owns 1,915,544 shares of the transportation company’s stock valued at $237,298,000 after acquiring an additional 62,815 shares in the last quarter. 87.47% of the stock is currently owned by institutional investors.

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.