Ryder System (NYSE:R) Price Target Raised to $318.00

Key Points

• Susquehanna raised Ryder System’s price target from $280 to $318 while maintaining a positive rating, implying 13.9% upside from the stock’s $279.20 price.
• Analyst sentiment is broadly favorable: eight analysts rate Ryder a Buy and four rate it Hold, resulting in a “Moderate Buy” consensus and an average target of $296.67.
• Ryder reported quarterly EPS of $4.33, beating estimates of $4.15, while revenue rose 8.3% year over year to $2.76 billion; institutional investors own 87.47% of shares.

Ryder System (NYSE:R - Get Free Report) had its price objective boosted by analysts at Susquehanna from $280.00 to $318.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "positive" rating on the transportation company's stock. Susquehanna's target price suggests a potential upside of 13.90% from the stock's current price.

A number of other equities analysts have also recently weighed in on R. Citizens Jmp began coverage on shares of Ryder System in a research note on Wednesday, July 15th. They set a "market perform" rating on the stock. Citigroup reiterated a "market perform" rating on shares of Ryder System in a report on Friday. Robert W. Baird reiterated a "neutral" rating and issued a $245.00 price objective (down from $290.00) on shares of Ryder System in a research note on Tuesday, September 29th. Barclays boosted their price objective on shares of Ryder System from $300.00 to $315.00 and gave the stock an "overweight" rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of Ryder System from $298.00 to $315.00 and gave the stock an "overweight" rating in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $296.67.

Ryder System Price Performance

Shares of R traded down $2.91 during mid-day trading on Tuesday, hitting $279.20. The company's stock had a trading volume of 17,144 shares, compared to its average volume of 361,097. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.86. The firm has a 50-day simple moving average of $243.11 and a 200 day simple moving average of $235.39. The firm has a market capitalization of $10.67 billion, a P/E ratio of 21.33 and a beta of 1.05. Ryder System has a 1-year low of $161.41 and a 1-year high of $287.00.

Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The transportation company reported $4.33 earnings per share for the quarter, topping analysts' consensus estimates of $4.15 by $0.18. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $3.38 billion. Ryder System had a return on equity of 19.14% and a net margin of 3.98%. Ryder System's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.57 earnings per share. Analysts predict that Ryder System will post 15.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Ryder System

Large investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC raised its position in Ryder System by 66.7% during the third quarter. Park Avenue Securities LLC now owns 1,439 shares of the transportation company's stock worth $328,000 after acquiring an additional 576 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Ryder System by 4.2% in the third quarter. Verdence Capital Advisors LLC now owns 2,846 shares of the transportation company's stock valued at $649,000 after purchasing an additional 116 shares during the last quarter. Signaturefd LLC raised its position in shares of Ryder System by 14.9% during the 3rd quarter. Signaturefd LLC now owns 872 shares of the transportation company's stock worth $199,000 after purchasing an additional 113 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Ryder System during the 3rd quarter worth approximately $479,000. Finally, James Investment Research Inc. lifted its stake in Ryder System by 1.3% in the 3rd quarter. James Investment Research Inc. now owns 13,214 shares of the transportation company's stock valued at $3,011,000 after buying an additional 174 shares in the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

Ryder System Company Profile

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.

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