Ryder System (NYSE:R) Reaches New 1-Year High Following Strong Earnings

Ryder System, Inc. (NYSE:R)’s share price hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $122.94 and last traded at $121.59, with a volume of 34350 shares trading hands. The stock had previously closed at $122.01.

The transportation company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year.

Ryder System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, February 16th. This represents a $2.84 dividend on an annualized basis and a yield of 2.32%. Ryder System’s dividend payout ratio is currently 32.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on R shares. StockNews.com upgraded shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird reissued a “buy” rating and issued a $140.00 price objective on shares of Ryder System in a report on Wednesday, January 3rd. The Goldman Sachs Group raised their price objective on shares of Ryder System from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday. Stephens lifted their price target on shares of Ryder System from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ryder System from $120.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $123.71.

Insider Buying and Selling

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total transaction of $877,994.76. Following the transaction, the chief marketing officer now owns 12,396 shares in the company, valued at $1,406,698.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.10% of the stock is currently owned by company insiders.

Institutional Trading of Ryder System

A number of large investors have recently made changes to their positions in R. Advisors Preferred LLC purchased a new stake in Ryder System in the fourth quarter worth about $1,892,000. Cambridge Financial Group Inc. purchased a new stake in shares of Ryder System during the third quarter valued at about $8,186,000. UBS Group AG lifted its position in shares of Ryder System by 24.2% during the third quarter. UBS Group AG now owns 78,946 shares of the transportation company’s stock valued at $8,443,000 after buying an additional 15,361 shares during the last quarter. Earnest Partners LLC lifted its position in shares of Ryder System by 2.5% during the third quarter. Earnest Partners LLC now owns 1,666,621 shares of the transportation company’s stock valued at $178,245,000 after buying an additional 40,086 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Ryder System by 174.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,717 shares of the transportation company’s stock valued at $812,000 after buying an additional 4,908 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Ryder System Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.80, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 14.00 and a beta of 1.40. The company’s fifty day moving average price is $114.49 and its 200-day moving average price is $110.66.

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.