The Goldman Sachs Group Increases Ryder System (NYSE:R) Price Target to $135.00

Ryder System (NYSE:R) had its price target boosted by The Goldman Sachs Group from $122.00 to $135.00 in a report issued on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the transportation company’s stock.

R has been the topic of a number of other research reports. StockNews.com cut shares of Ryder System from a buy rating to a hold rating in a research note on Saturday, April 13th. Stephens raised their price objective on shares of Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a research note on Wednesday. Robert W. Baird reaffirmed a buy rating and set a $140.00 price objective on shares of Ryder System in a research note on Wednesday, January 3rd. Vertical Research cut shares of Ryder System from a buy rating to a hold rating and set a $120.00 price target on the stock. in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company lifted their price target on shares of Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $123.71.

Ryder System Stock Performance

R opened at $122.21 on Wednesday. Ryder System has a 12-month low of $76.15 and a 12-month high of $122.94. The company has a current ratio of 1.11, a quick ratio of 0.62 and a debt-to-equity ratio of 2.46. The firm has a market capitalization of $5.40 billion, a PE ratio of 14.00 and a beta of 1.40. The firm has a 50 day moving average of $114.49 and a two-hundred day moving average of $110.66.

Ryder System (NYSE:R) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.43. The business 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 revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $2.81 EPS. On average, analysts anticipate that Ryder System will post 11.9 EPS for the current year.

Ryder System Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.32%. Ryder System’s payout ratio is currently 32.53%.

Insider Buying and Selling at Ryder System

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of R. Headlands Technologies LLC purchased a new position in shares of Ryder System during the 3rd quarter worth $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Ryder System during the 4th quarter worth $26,000. GAMMA Investing LLC purchased a new position in shares of Ryder System during the 4th quarter worth $45,000. CWM LLC raised its holdings in Ryder System by 33.9% in the 3rd quarter. CWM LLC now owns 438 shares of the transportation company’s stock valued at $47,000 after buying an additional 111 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Ryder System by 406.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock valued at $54,000 after buying an additional 406 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

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.