Ryder System, Inc. (NYSE:R) Sees Significant Growth in Short Interest

Ryder System, Inc. (NYSE:R) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 3,214,200 shares, a growth of 28.2% from the July 31st total of 2,506,300 shares. Currently, 6.1% of the company’s stock are sold short. Based on an average daily trading volume, of 502,800 shares, the short-interest ratio is presently 6.4 days.

In related news, Director Luis P. Nieto, Jr. sold 2,293 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $46.67, for a total transaction of $107,014.31. Following the transaction, the director now directly owns 23,757 shares of the company’s stock, valued at approximately $1,108,739.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama boosted its stake in shares of Ryder System by 0.3% in the second quarter. Retirement Systems of Alabama now owns 69,328 shares of the transportation company’s stock worth $4,042,000 after buying an additional 183 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Ryder System by 3.8% in the first quarter. Nordea Investment Management AB now owns 67,335 shares of the transportation company’s stock worth $4,173,000 after buying an additional 2,434 shares during the last quarter. Rothschild & Co. Asset Management US Inc. boosted its stake in shares of Ryder System by 3.8% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 309,203 shares of the transportation company’s stock worth $19,167,000 after buying an additional 11,386 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ryder System in the first quarter worth about $510,000. Finally, Allstate Corp purchased a new stake in shares of Ryder System in the first quarter worth about $207,000. Hedge funds and other institutional investors own 88.63% of the company’s stock.



Shares of R stock traded up $0.08 during mid-day trading on Friday, reaching $53.33. The stock had a trading volume of 512,800 shares, compared to its average volume of 568,197. The business’s fifty day moving average is $50.10 and its 200-day moving average is $57.07. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 2.54. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 9.21 and a beta of 1.83. Ryder System has a 1-year low of $44.80 and a 1-year high of $79.95.

Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.40. Ryder System had a return on equity of 11.46% and a net margin of 3.60%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. On average, analysts forecast that Ryder System will post 5.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 16th will be paid a $0.56 dividend. This is an increase from Ryder System’s previous quarterly dividend of $0.54. The ex-dividend date is Friday, August 16th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.20%. Ryder System’s dividend payout ratio is presently 38.69%.

A number of research analysts have recently weighed in on R shares. KeyCorp cut their price objective on Ryder System from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. TheStreet lowered Ryder System from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. SunTrust Banks cut their price objective on Ryder System to $65.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Loop Capital lowered Ryder System from a “buy” rating to a “hold” rating and cut their price objective for the company from $70.00 to $62.00 in a report on Tuesday, July 2nd. Finally, ValuEngine lowered Ryder System from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $71.57.

About Ryder System

Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.

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