Ryder System (NYSE:R) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Ryder System shares reached a new 52-week high after Citigroup raised its price target from $285 to $302 and maintained a Buy rating. Other analysts also lifted targets, contributing to a “Moderate Buy” consensus rating and average target of $292.44.
• Ryder reported quarterly EPS of $4.33, exceeding the $4.15 analyst consensus, while revenue rose 8.3% year over year to $2.76 billion. Analysts expect full-year EPS of approximately $15.07.
• The company declared a quarterly dividend of $1.01 per share, equivalent to $4.04 annually and a 1.4% yield; institutional investors own 87.47% of the stock.

Ryder System, Inc. (NYSE:R - Get Free Report) shares reached a new 52-week high during trading on Monday after Citigroup raised their price target on the stock from $285.00 to $302.00. Citigroup currently has a buy rating on the stock. Ryder System traded as high as $284.29 and last traded at $284.9390, with a volume of 222,504 shares. The stock had previously closed at $270.90.

R has been the topic of several other reports. Robert W. Baird restated a "neutral" rating and issued a $245.00 price objective (down from $290.00) on shares of Ryder System in a research report on Tuesday, September 29th. Stephens upped their target price on shares of Ryder System from $280.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday. Citizens Jmp started coverage on Ryder System in a research note on Wednesday, July 15th. They issued a "market perform" rating for the company. Wells Fargo & Company increased their price target on shares of Ryder System from $300.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Ryder System in a report on Monday, August 24th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Ryder System currently has an average rating of "Moderate Buy" and an average target price of $292.44.

Institutional Investors Weigh In On Ryder System

Institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its position in shares of Ryder System by 36.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 160 shares of the transportation company's stock valued at $42,000 after purchasing an additional 43 shares during the period. Versant Capital Management Inc grew its position in Ryder System by 19.2% during the third quarter. Versant Capital Management Inc now owns 317 shares of the transportation company's stock worth $72,000 after buying an additional 51 shares in the last quarter. Quantum Portfolio Management LLC increased its stake in Ryder System by 2.1% during the first quarter. Quantum Portfolio Management LLC now owns 2,564 shares of the transportation company's stock valued at $525,000 after acquiring an additional 52 shares during the period. Corient Private Wealth LLC increased its stake in Ryder System by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 7,337 shares of the transportation company's stock valued at $1,404,000 after acquiring an additional 58 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in Ryder System by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 9,441 shares of the transportation company's stock valued at $2,490,000 after acquiring an additional 61 shares in the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Ryder System Stock Performance

The firm has a fifty day simple moving average of $242.45 and a 200 day simple moving average of $249.54. 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 stock has a market cap of $10.89 billion, a price-to-earnings ratio of 21.72 and a beta of 1.05.

Ryder System (NYSE:R - Get Free Report) last issued its earnings results on Thursday, October 22nd. The transportation company reported $4.33 EPS for the quarter, topping the consensus estimate of $4.15 by $0.18. Ryder System had a return on equity of 19.14% and a net margin of 3.98%. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same period last year, the business earned $3.57 earnings per share. Ryder System's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Ryder System, Inc. will post 15.07 earnings per share for the current year.

Ryder System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 23rd will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 23rd. Ryder System's dividend payout ratio is 30.79%.

About Ryder System

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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