Ryder System, Inc. (NYSE:R) Short Interest Update

Ryder System, Inc. (NYSE:R) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 699,783 shares, a drop of 22.0% from the December 31st total of 896,696 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average trading volume of 336,513 shares, the short-interest ratio is presently 2.1 days. Based on an average trading volume of 336,513 shares, the short-interest ratio is presently 2.1 days. Currently, 1.8% of the shares of the company are sold short.

Institutional Trading of Ryder System

Institutional investors and hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D boosted its stake in shares of Ryder System by 3.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 12,991 shares of the transportation company’s stock valued at $2,486,000 after purchasing an additional 488 shares during the period. M&T Bank Corp boosted its position in Ryder System by 29.8% in the 4th quarter. M&T Bank Corp now owns 2,086 shares of the transportation company’s stock valued at $400,000 after buying an additional 479 shares during the period. Nippon Life Global Investors Americas Inc. grew its stake in shares of Ryder System by 96.1% in the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 140,580 shares of the transportation company’s stock worth $26,906,000 after acquiring an additional 68,910 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Ryder System by 5.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,101 shares of the transportation company’s stock worth $1,168,000 after acquiring an additional 298 shares during the period. Finally, Elevated Financial Group LLC acquired a new stake in shares of Ryder System in the fourth quarter valued at $283,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Ryder System Trading Down 0.7%

R stock traded down $1.33 during trading on Friday, reaching $191.09. 357,488 shares of the stock were exchanged, compared to its average volume of 290,697. Ryder System has a 1 year low of $125.54 and a 1 year high of $200.53. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 16.14 and a beta of 0.96. The business has a 50 day moving average price of $188.55 and a 200-day moving average price of $182.42. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.35.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on R. JPMorgan Chase & Co. lifted their target price on shares of Ryder System from $194.00 to $197.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Wells Fargo & Company started coverage on shares of Ryder System in a research report on Friday, December 5th. They issued an “overweight” rating and a $210.00 price objective for the company. Wolfe Research reissued a “peer perform” rating on shares of Ryder System in a research note on Thursday, January 8th. Citigroup lifted their price target on Ryder System from $196.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, Morgan Stanley increased their price target on Ryder System from $190.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.67.

Ryder System Company Profile

Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company’s Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.

Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.