Robert W. Baird Issues Positive Forecast for Ryder System (NYSE:R) Stock Price

Key Points

• Robert W. Baird raised its price target for Ryder System (NYSE:R) from $186.00 to $192.00, indicating a potential upside of 4.73% from the previous close and maintaining an "outperform" rating.
• Ryder System's recent quarterly earnings exceeded expectations, reporting $3.32 EPS against an estimate of $3.11, with revenue of $3.19 billion up 0.2% year-over-year.
• In insider trading, Director E Follin Smith and CEO Robert E. Sanchez sold shares, with Smith selling 1,243 shares and Sanchez 18,496 shares, indicating a decrease in their ownership positions.

Ryder System (NYSE:R - Get Free Report) had its price target boosted by Robert W. Baird from $186.00 to $192.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the transportation company's stock. Robert W. Baird's price target would suggest a potential upside of 4.73% from the stock's previous close.

Several other equities research analysts have also recently issued reports on R. JPMorgan Chase & Co. raised their target price on shares of Ryder System from $165.00 to $173.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Stephens dropped their target price on shares of Ryder System from $168.00 to $150.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Morgan Stanley raised their target price on shares of Ryder System from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday. Barclays assumed coverage on shares of Ryder System in a report on Monday, June 9th. They issued an "overweight" rating and a $190.00 target price on the stock. Finally, Susquehanna started coverage on shares of Ryder System in a research note on Tuesday, July 15th. They set a "positive" rating and a $215.00 price target on the stock. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $181.50.

Ryder System Stock Up 0.4%

Shares of NYSE:R traded up $0.73 during trading on Monday, reaching $183.33. 38,616 shares of the stock traded hands, compared to its average volume of 381,025. The stock has a 50-day moving average of $159.77 and a two-hundred day moving average of $153.78. Ryder System has a 52-week low of $123.36 and a 52-week high of $184.06. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $7.58 billion, a P/E ratio of 15.56 and a beta of 0.97.

Ryder System (NYSE:R - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The transportation company reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $0.21. Ryder System had a net margin of 3.99% and a return on equity of 17.83%. The firm had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $3.17 billion. During the same quarter in the prior year, the company posted $3.00 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts expect that Ryder System will post 13.68 earnings per share for the current fiscal year.

Insider Transactions at Ryder System

In other news, Director E Follin Smith sold 1,243 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $144.38, for a total value of $179,464.34. Following the sale, the director directly owned 39,802 shares in the company, valued at $5,746,612.76. The trade was a 3.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert E. Sanchez sold 18,496 shares of the business's 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 sale, the chief executive officer owned 40,824 shares in the company, valued at approximately $6,357,521.52. This trade represents a 31.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

Institutional Trading of Ryder System

A number of large investors have recently made changes to their positions in the business. LPL Financial LLC boosted its stake in shares of Ryder System by 12.0% during the 4th quarter. LPL Financial LLC now owns 14,552 shares of the transportation company's stock worth $2,283,000 after purchasing an additional 1,557 shares during the period. JPMorgan Chase & Co. boosted its position in Ryder System by 2.8% in the 4th quarter. JPMorgan Chase & Co. now owns 149,415 shares of the transportation company's stock valued at $23,437,000 after buying an additional 4,062 shares during the period. Norges Bank purchased a new stake in Ryder System in the 4th quarter valued at about $97,844,000. New Age Alpha Advisors LLC bought a new position in shares of Ryder System during the fourth quarter valued at approximately $86,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Ryder System by 7.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,870 shares of the transportation company's stock valued at $921,000 after purchasing an additional 422 shares in the last quarter. 87.47% of the stock is currently owned by institutional investors.

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.

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