Ryder System (NYSE:R) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of Ryder System (NYSE:R) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $165.00 price objective on the transportation company’s stock.

R has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. StockNews.com raised Ryder System from a hold rating to a buy rating in a report on Wednesday, April 24th. Stephens upped their price objective on Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a report on Wednesday, April 24th. The Goldman Sachs Group raised their target price on Ryder System from $122.00 to $135.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, Vertical Research raised shares of Ryder System from a hold rating to a buy rating and upped their price target for the stock from $125.00 to $145.00 in a research note on Friday, June 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $135.86.

Ryder System Stock Performance

Shares of R stock opened at $122.74 on Monday. Ryder System has a 52-week low of $82.46 and a 52-week high of $128.85. The stock’s 50-day moving average price is $121.68 and its 200 day moving average price is $116.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $5.38 billion, a PE ratio of 15.98 and a beta of 1.32.

Ryder System (NYSE:R) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.71 by $0.43. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the business earned $2.81 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Ryder System will post 12.1 EPS for the current year.

Ryder System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, May 20th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.84 annualized dividend and a dividend yield of 2.31%. Ryder System’s dividend payout ratio (DPR) is 36.98%.

Insiders Place Their Bets

In related news, CMO Karen M. Jones sold 6,776 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total value of $816,101.44. Following the completion of the transaction, the chief marketing officer now owns 5,666 shares in the company, valued at approximately $682,413.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Thomas M. Havens sold 8,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $119.40, for a total value of $955,200.00. Following the completion of the sale, the insider now directly owns 24,401 shares of the company’s stock, valued at $2,913,479.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Karen M. Jones sold 6,776 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total transaction of $816,101.44. Following the completion of the sale, the chief marketing officer now owns 5,666 shares of the company’s stock, valued at approximately $682,413.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,800 shares of company stock worth $11,990,862. 5.10% of the stock is owned by insiders.

Institutional Trading of Ryder System

A number of institutional investors have recently added to or reduced their stakes in R. EntryPoint Capital LLC bought a new stake in Ryder System during the 1st quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Ryder System in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC acquired a new stake in shares of Ryder System in the fourth quarter worth $45,000. Creekmur Asset Management LLC bought a new position in Ryder System during the fourth quarter worth $68,000. Finally, CWM LLC raised its stake in Ryder System by 62.0% during the 1st quarter. CWM LLC now owns 643 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 246 shares during the last quarter. 87.47% of the stock is currently owned by institutional investors and hedge funds.

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.