Ryder System (NYSE:R) Sets New 52-Week High at $143.73

Ryder System, Inc. (NYSE:R) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $143.73 and last traded at $143.41, with a volume of 14654 shares changing hands. The stock had previously closed at $142.27.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on R. Robert W. Baird raised their price target on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Morgan Stanley assumed coverage on Ryder System in a report on Monday, June 24th. They set an “overweight” rating and a $165.00 price target on the stock. StockNews.com lowered Ryder System from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th. Stephens began coverage on Ryder System in a research report on Monday, July 8th. They set an “equal weight” rating for the company. Finally, Vertical Research upgraded Ryder System from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $145.00 in a report on Friday, June 14th. Four investment 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, Ryder System has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Ryder System Trading Up 1.0 %

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.09. The stock’s fifty day moving average price is $130.61 and its two-hundred day moving average price is $122.42. The stock has a market capitalization of $6.19 billion, a P/E ratio of 18.22 and a beta of 1.29.

Ryder System (NYSE:R) last announced its quarterly earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.13. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.24 billion. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.61 EPS. Equities research analysts forecast that Ryder System, Inc. will post 12.19 EPS for the current year.

Ryder System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 19th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Monday, August 19th. This is an increase from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.29%. Ryder System’s dividend payout ratio (DPR) is currently 42.19%.

Insiders Place Their Bets

In other Ryder System news, EVP Francisco Jr. Lopez sold 12,730 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the completion of the transaction, the executive vice president now directly owns 47,779 shares in the company, valued at $6,656,570.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in shares of Ryder System during the 4th quarter valued at $45,000. Truist Financial Corp increased its stake in shares of Ryder System by 2.9% during the fourth quarter. Truist Financial Corp now owns 14,725 shares of the transportation company’s stock valued at $1,694,000 after acquiring an additional 417 shares during the period. Russell Investments Group Ltd. boosted its stake in Ryder System by 17.7% during the fourth quarter. Russell Investments Group Ltd. now owns 41,434 shares of the transportation company’s stock valued at $4,768,000 after buying an additional 6,243 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of Ryder System by 16.0% in the 4th quarter. Natixis Advisors L.P. now owns 60,772 shares of the transportation company’s stock worth $6,992,000 after purchasing an additional 8,391 shares during the last quarter. Finally, Summit Global Investments bought a new position in shares of Ryder System in the fourth quarter valued at $208,000. 87.47% of the stock is currently owned by hedge funds and other 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.