Ryder System (NYSE:R) Reaches New 52-Week High – What’s Next?

Ryder System, Inc. (NYSE:R) reached a new 52-week high on Wednesday . The stock traded as high as $159.50 and last traded at $159.50, with a volume of 15732 shares changing hands. The stock had previously closed at $152.21.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on R. JPMorgan Chase & Co. lowered their price target on Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Robert W. Baird raised their price objective on shares of Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, StockNews.com cut Ryder System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Ryder System presently has a consensus rating of “Moderate Buy” and an average target price of $140.57.

Ryder System Stock Performance

The firm has a 50 day moving average price of $144.08 and a 200 day moving average price of $132.88. The stock has a market cap of $6.81 billion, a PE ratio of 14.87 and a beta of 1.28. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.17.

Ryder System (NYSE:R) last announced its quarterly earnings results on Thursday, October 24th. The transportation company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.39 by $0.05. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Ryder System had a net margin of 3.83% and a return on equity of 16.78%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.58 EPS. As a group, research analysts forecast that Ryder System, Inc. will post 12.01 earnings per share for the current year.

Ryder System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, November 18th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, November 18th. Ryder System’s payout ratio is 30.31%.

Institutional Trading of Ryder System

Hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV grew its stake in shares of Ryder System by 21.9% during the third quarter. KBC Group NV now owns 1,232 shares of the transportation company’s stock worth $180,000 after acquiring an additional 221 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Ryder System in the third quarter worth $396,000. Sigma Planning Corp purchased a new position in shares of Ryder System in the third quarter worth $208,000. Atria Investments Inc grew its holdings in shares of Ryder System by 3.5% during the third quarter. Atria Investments Inc now owns 3,759 shares of the transportation company’s stock valued at $548,000 after buying an additional 126 shares during the last quarter. Finally, AIA Group Ltd increased its position in shares of Ryder System by 37.5% in the 3rd quarter. AIA Group Ltd now owns 3,888 shares of the transportation company’s stock valued at $567,000 after acquiring an additional 1,060 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

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.