JPMorgan Chase & Co. Increases Ryder System (NYSE:R) Price Target to $126.00

Ryder System (NYSE:R) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $120.00 to $126.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.95% from the stock’s current price.

A number of other research analysts have also commented on the stock. StockNews.com lowered shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $122.00 price objective on shares of Ryder System in a report on Thursday, February 15th. Stephens boosted their price objective on shares of Ryder System from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Ryder System from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Vertical Research downgraded shares of Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.71.

Ryder System Stock Up 0.2 %

Ryder System stock opened at $122.39 on Wednesday. The firm has a market capitalization of $5.41 billion, a PE ratio of 14.02 and a beta of 1.40. The company’s 50-day moving average is $114.74 and its 200-day moving average is $110.74. Ryder System has a fifty-two week low of $76.15 and a fifty-two week high of $123.45. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.11 and a quick ratio of 0.62.

Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.43. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.06 billion. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. Ryder System’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.81 EPS. Sell-side analysts anticipate that Ryder System will post 11.9 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now directly owns 12,396 shares in the company, valued at approximately $1,406,698.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryder System

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Ryder System in the 3rd quarter valued at approximately $26,000. Contravisory Investment Management Inc. acquired a new position in Ryder System in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC acquired a new position in Ryder System in the 4th quarter valued at approximately $45,000. CWM LLC increased its position 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 buying an additional 111 shares during the period. Finally, Exchange Traded Concepts LLC increased its position 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 buying an additional 406 shares during the period. 87.47% of the stock is currently owned by institutional investors and hedge funds.

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.