Ryder System (NYSE:R) Shares Up 8.9% After Strong Earnings

Ryder System, Inc. (NYSE:R)’s share price shot up 8.9% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $118.70 and last traded at $118.70. 49,265 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 250,951 shares. The stock had previously closed at $109.00.

The transportation company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.71 by $0.43. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. Ryder System’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.81 EPS.

Ryder System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Analysts Set New Price Targets

R has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Ryder System from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on Ryder System from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com raised Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird reaffirmed a “buy” rating and issued a $140.00 target price on shares of Ryder System in a research report on Wednesday, January 3rd. Finally, The Goldman Sachs Group upped their target price on Ryder System from $122.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Ryder System presently has a consensus rating of “Hold” and an average target price of $123.71.

Insider Activity at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction of $877,994.76. Following the sale, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Ryder System

Several institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Ryder System during the 3rd quarter worth $26,000. Contravisory Investment Management Inc. bought a new position in Ryder System during the 4th quarter worth $26,000. GAMMA Investing LLC bought a new position in Ryder System during the 4th quarter worth $45,000. CWM LLC grew its stake in Ryder System by 33.9% during the 3rd quarter. CWM LLC now owns 438 shares of the transportation company’s stock worth $47,000 after buying an additional 111 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Ryder System by 406.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock worth $54,000 after buying an additional 406 shares during the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

Ryder System Stock Performance

The stock has a market capitalization of $5.40 billion, a P/E ratio of 14.00 and a beta of 1.40. The stock has a 50 day moving average of $114.49 and a 200 day moving average of $110.66. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.62 and a current ratio of 1.11.

Ryder System Company Profile

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.