Ryder System (NYSE:R) Reaches New 52-Week High After Better-Than-Expected Earnings

Shares of Ryder System, Inc. (NYSE:R) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $122.94 and last traded at $121.59, with a volume of 34350 shares. The stock had previously closed at $122.01.

The transportation company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the business earned $2.81 EPS. The company’s revenue was up 4.9% compared to the same quarter last year.

Ryder System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors 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 dividend on an annualized basis and a dividend yield of 2.32%. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Stephens boosted their target price on shares of Ryder System from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Ryder System from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday. Vertical Research lowered shares of Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Wednesday, January 10th. StockNews.com upgraded shares of Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of Ryder System from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $123.71.

Insider Activity

In related news, CMO Karen M. Jones sold 7,737 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Ryder System

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its stake in shares of Ryder System by 3.2% during the first quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the transportation company’s stock valued at $1,538,000 after purchasing an additional 400 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Ryder System by 3.7% during the first quarter. Fifth Third Bancorp now owns 23,709 shares of the transportation company’s stock valued at $2,850,000 after buying an additional 843 shares during the last quarter. Measured Wealth Private Client Group LLC grew its holdings in shares of Ryder System by 30.9% during the first quarter. Measured Wealth Private Client Group LLC now owns 5,686 shares of the transportation company’s stock valued at $683,000 after buying an additional 1,341 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Ryder System by 2.8% during the first quarter. State of Michigan Retirement System now owns 10,930 shares of the transportation company’s stock valued at $1,314,000 after buying an additional 300 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Ryder System by 120.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,437 shares of the transportation company’s stock valued at $413,000 after buying an additional 1,880 shares during the last quarter. Institutional investors own 87.47% of the company’s stock.

Ryder System Trading Up 0.2 %

The stock’s fifty day moving average price is $114.74 and its 200 day moving average price is $110.74. The company has a quick ratio of 0.62, a current ratio of 1.11 and a debt-to-equity ratio of 2.46. The stock has a market cap of $5.41 billion, a PE ratio of 14.02 and a beta of 1.40.

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.