Ryder System (NYSE:R) Given New $126.00 Price Target at JPMorgan Chase & Co.

Ryder System (NYSE:R) had its target price boosted by JPMorgan Chase & Co. from $120.00 to $126.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Other research analysts have also recently issued reports about the company. StockNews.com cut Ryder System from a buy rating to a hold rating in a research note on Saturday, April 13th. The Goldman Sachs Group reaffirmed a buy rating and set a $122.00 price objective on shares of Ryder System in a research note on Thursday, February 15th. Stephens raised their price objective on Ryder System from $113.00 to $120.00 and gave the company an equal weight rating in a research note on Wednesday. Vertical Research cut Ryder System from a buy rating to a hold rating and set a $120.00 price objective on the stock. in a research note on Wednesday, January 10th. Finally, Robert W. Baird reiterated a buy rating and set a $140.00 target price on shares of Ryder System in a report on Wednesday, January 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $123.71.

Ryder System Trading Up 0.2 %

NYSE:R opened at $122.21 on Wednesday. The company has a market cap of $5.40 billion, a P/E ratio of 14.00 and a beta of 1.40. The stock’s fifty day moving average price is $114.49 and its two-hundred day moving average price is $110.66. Ryder System has a 1 year low of $76.15 and a 1 year high of $122.94. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.11 and a quick ratio of 0.62.

Ryder System (NYSE:R) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.43. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 earnings per share. As a group, analysts expect that Ryder System will post 11.9 EPS for the current year.

Ryder System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were issued a $0.71 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.84 annualized dividend and a yield of 2.32%. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Insiders Place Their Bets

In other news, CMO Karen M. Jones sold 7,737 shares of Ryder System stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total transaction of $877,994.76. Following the completion of the transaction, the chief marketing officer now directly owns 12,396 shares in the company, valued at $1,406,698.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ryder System

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of Ryder System by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,442,545 shares of the transportation company’s stock valued at $396,099,000 after acquiring an additional 890,986 shares in the last quarter. Earnest Partners LLC increased its position in shares of Ryder System by 2.5% during the third quarter. Earnest Partners LLC now owns 1,666,621 shares of the transportation company’s stock valued at $178,245,000 after acquiring an additional 40,086 shares in the last quarter. LSV Asset Management increased its position in shares of Ryder System by 3.8% during the fourth quarter. LSV Asset Management now owns 1,629,618 shares of the transportation company’s stock valued at $187,504,000 after acquiring an additional 59,156 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ryder System by 12.3% during the third quarter. AQR Capital Management LLC now owns 845,253 shares of the transportation company’s stock valued at $90,400,000 after acquiring an additional 92,760 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Ryder System by 7.9% during the third quarter. American Century Companies Inc. now owns 775,382 shares of the transportation company’s stock valued at $82,927,000 after acquiring an additional 56,851 shares in the last quarter. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Ryder System Company Profile

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.