Ryder System (NYSE:R) Coverage Initiated at Robert W. Baird

Analysts at Robert W. Baird began coverage on shares of Ryder System (NYSE:R) in a research note issued on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $186.00 price target on the transportation company’s stock. Robert W. Baird’s price objective indicates a potential upside of 8.26% from the stock’s current price.

Several other research firms also recently commented on R. Wall Street Zen downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. reduced their target price on Ryder System from $174.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Stephens lowered their price target on Ryder System from $168.00 to $150.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Wolfe Research upgraded Ryder System from a “peer perform” rating to an “outperform” rating and set a $159.00 price target on the stock in a research note on Tuesday. Finally, Barclays initiated coverage on Ryder System in a research note on Monday, June 9th. They issued an “overweight” rating and a $190.00 price objective for the company. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $172.17.

Ryder System Price Performance

Shares of R opened at $171.81 on Tuesday. The company has a 50 day moving average of $150.65 and a two-hundred day moving average of $152.09. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.21. Ryder System has a twelve month low of $117.17 and a twelve month high of $172.04. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 14.98 and a beta of 0.97.

Ryder System (NYSE:R) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. Ryder System had a return on equity of 17.64% and a net margin of 3.96%. The firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts predict that Ryder System will post 13.68 earnings per share for the current fiscal year.

Insider Transactions at Ryder System

In other news, CEO Robert E. Sanchez sold 18,496 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $155.73, for a total transaction of $2,880,382.08. Following the sale, the chief executive officer owned 40,824 shares of the company’s stock, valued at $6,357,521.52. This trade represents a 31.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director E Follin Smith sold 1,243 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $144.38, for a total transaction of $179,464.34. Following the completion of the transaction, the director owned 39,802 shares of the company’s stock, valued at approximately $5,746,612.76. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wealthfront Advisers LLC purchased a new position in shares of Ryder System during the 4th quarter valued at approximately $314,075,000. Norges Bank purchased a new position in Ryder System during the fourth quarter valued at $97,844,000. Wellington Management Group LLP grew its position in shares of Ryder System by 16.2% in the first quarter. Wellington Management Group LLP now owns 2,984,836 shares of the transportation company’s stock valued at $429,249,000 after purchasing an additional 415,103 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in shares of Ryder System in the fourth quarter valued at about $40,475,000. Finally, GAMMA Investing LLC increased its stake in shares of Ryder System by 20,298.3% during the first quarter. GAMMA Investing LLC now owns 183,789 shares of the transportation company’s stock worth $26,431,000 after purchasing an additional 182,888 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

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.