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

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Ryder System, Inc. (NYSE:R) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 3,060,000 shares, an increase of 5.9% from the January 15th total of 2,890,000 shares. Based on an average daily volume of 759,500 shares, the days-to-cover ratio is currently 4.0 days. Approximately 5.8% of the shares of the company are sold short.

Shares of R stock opened at $40.12 on Friday. Ryder System has a 12 month low of $39.50 and a 12 month high of $67.65. The firm has a market cap of $2.60 billion, a PE ratio of 15.43 and a beta of 1.84. The stock has a 50 day moving average of $51.96 and a 200-day moving average of $51.40. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 2.75.

Ryder System (NYSE:R) last issued its quarterly earnings results on Thursday, February 13th. The transportation company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Ryder System had a return on equity of 11.65% and a net margin of 1.55%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts predict that Ryder System will post 5.01 EPS for the current fiscal year.

Ryder System declared that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that allows the company to buyback 1,500,000 shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, February 14th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.58%. Ryder System’s dividend payout ratio (DPR) is presently 38.69%.

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System lifted its holdings in shares of Ryder System by 0.9% during the third quarter. California State Teachers Retirement System now owns 88,381 shares of the transportation company’s stock worth $4,575,000 after buying an additional 784 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Ryder System by 57.2% in the third quarter. Janney Montgomery Scott LLC now owns 11,736 shares of the transportation company’s stock valued at $608,000 after purchasing an additional 4,272 shares in the last quarter. CNA Financial Corp raised its stake in shares of Ryder System by 8.7% in the third quarter. CNA Financial Corp now owns 60,958 shares of the transportation company’s stock valued at $3,156,000 after purchasing an additional 4,856 shares in the last quarter. Surevest Inc. raised its stake in shares of Ryder System by 17.7% in the fourth quarter. Surevest Inc. now owns 34,847 shares of the transportation company’s stock valued at $1,893,000 after purchasing an additional 5,236 shares in the last quarter. Finally, Dupont Capital Management Corp raised its stake in shares of Ryder System by 41.3% in the third quarter. Dupont Capital Management Corp now owns 5,015 shares of the transportation company’s stock valued at $260,000 after purchasing an additional 1,466 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Several research firms recently weighed in on R. SunTrust Banks reduced their target price on Ryder System from $65.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. They noted that the move was a valuation call. JPMorgan Chase & Co. reduced their target price on Ryder System from $49.00 to $42.00 and set an “underweight” rating for the company in a report on Friday. Loop Capital upgraded Ryder System from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, January 13th. Stephens reduced their target price on Ryder System from $50.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday. Finally, ValuEngine lowered Ryder System from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Ryder System has an average rating of “Hold” and a consensus price target of $56.43.

About Ryder System

Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.

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