Ryder System (NYSE:R) Price Target Raised to $173.00 at JPMorgan Chase & Co.

Ryder System (NYSE:R - Free Report) had its price objective raised by JPMorgan Chase & Co. from $165.00 to $173.00 in a research note published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company's stock.

R has been the subject of several other research reports. Stephens lowered their price objective on shares of Ryder System from $168.00 to $150.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Robert W. Baird assumed coverage on shares of Ryder System in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $186.00 price objective for the company. Wall Street Zen lowered shares of Ryder System from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Baird R W upgraded shares of Ryder System to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Wolfe Research upgraded shares of Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price target for the company in a research note on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $173.50.

Ryder System Trading Down 0.3%

NYSE R traded down $0.51 during trading hours on Tuesday, reaching $169.69. The company's stock had a trading volume of 84,278 shares, compared to its average volume of 324,621. The firm has a fifty day simple moving average of $153.26 and a 200-day simple moving average of $152.38. The stock has a market cap of $7.01 billion, a P/E ratio of 14.81 and a beta of 0.97. Ryder System has a 52 week low of $117.17 and a 52 week high of $172.72. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.73 and a quick ratio of 0.73.

Ryder System (NYSE:R - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. The firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same quarter last year, the business earned $2.14 EPS. The company's revenue was up 1.1% compared to the same quarter last year. Equities analysts forecast that Ryder System will post 13.68 earnings per share for the current fiscal year.

Ryder System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 19th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Monday, May 19th. Ryder System's dividend payout ratio is currently 28.25%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of R. Leigh Baldwin & CO. LLC purchased a new stake in Ryder System in the 4th quarter worth about $40,475,000. State of Alaska Department of Revenue grew its stake in Ryder System by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 4,928 shares of the transportation company's stock worth $708,000 after acquiring an additional 105 shares in the last quarter. DAVENPORT & Co LLC purchased a new stake in Ryder System in the first quarter worth about $557,000. GAMMA Investing LLC boosted its stake in shares of Ryder System by 41.8% during the first quarter. GAMMA Investing LLC now owns 1,278 shares of the transportation company's stock valued at $184,000 after purchasing an additional 377 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its stake in Ryder System by 10.3% in the fourth quarter. Gotham Asset Management LLC now owns 73,785 shares of the transportation company's stock valued at $11,574,000 after acquiring an additional 6,908 shares in the last quarter. Hedge funds and other institutional investors 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.