Ryder System (NYSE:R) Shares Up 8.9% After Strong Earnings

Shares of Ryder System, Inc. (NYSE:R) traded up 8.9% during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $118.70 and last traded at $118.70. 49,265 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 250,951 shares. The stock had previously closed at $109.00.

The transportation company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company earned $2.81 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis.

Ryder System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.84 annualized dividend and a dividend yield of 2.32%. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Analysts Set New Price Targets

Several research firms recently commented on R. Vertical Research downgraded Ryder System from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Wednesday, January 10th. StockNews.com upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday. Stephens raised their target price on Ryder System from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company raised their target price on Ryder System from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group lifted their price objective on Ryder System from $122.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ryder System presently has an average rating of “Hold” and a consensus target price of $123.71.

Insider Buying and Selling at Ryder System

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of Ryder System stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now owns 12,396 shares in the company, valued at approximately $1,406,698.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Ryder System

Hedge funds and other institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Ryder System in the 4th quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in shares of Ryder System in the 3rd quarter valued at $26,000. GAMMA Investing LLC acquired a new stake in shares of Ryder System during the fourth quarter worth $45,000. CWM LLC grew its stake in shares of Ryder System by 33.9% during the third quarter. CWM LLC now owns 438 shares of the transportation company’s stock worth $47,000 after purchasing an additional 111 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Ryder System by 406.0% during the third quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock worth $54,000 after purchasing an additional 406 shares during the period. 87.47% of the stock is owned by institutional investors and hedge funds.

Ryder System Trading Up 0.2 %

The company has a debt-to-equity ratio of 2.46, a current ratio of 1.11 and a quick ratio of 0.62. The business has a 50 day moving average of $114.49 and a 200 day moving average of $110.66. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 14.00 and a beta of 1.40.

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.