Ryder System (NYSE:R) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Ryder has an encouraging earnings history having surpassed the Zacks Consensus Estimate in each of the three quarters of 2018. We expect the company to perform well on the bottom line front in the fourth quarter as well. Detailed results are scheduled to be available on Feb 14. The company antiicpates adjusted earnings per share of $1.75-$1.85 in the fourth quarter of 2018, higher than $1.64 reported in the third quarter of 2018. The company's outlook for 2018 is also encouraging. Ryder's efforts to reward shareholders through dividend payments is also appreciative. However, the company's bottom line is likely to be hurt by high costs in the fourth quarter. High capital expenditures are likely to push up costs. The company expects gross capital expenditures to be $3.1 billion in 2018, higher than $1.94 billion in 2017. Its high debt levels are also worrisome.”
Other equities research analysts have also issued reports about the company. Loop Capital upgraded Ryder System from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Thursday, October 25th. ValuEngine lowered Ryder System from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th. KeyCorp cut their price objective on Ryder System from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, October 29th. Stephens set a $64.00 price objective on Ryder System and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Mizuho reiterated a “buy” rating on shares of Ryder System in a research note on Tuesday, October 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Ryder System currently has an average rating of “Hold” and a consensus price target of $76.50.
Shares of Ryder System stock opened at $60.52 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.86. Ryder System has a twelve month low of $44.80 and a twelve month high of $85.13. The stock has a market capitalization of $3.16 billion, a P/E ratio of 13.36 and a beta of 1.72.
In other Ryder System news, EVP John J. Gleason sold 12,795 shares of the business’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $55.14, for a total transaction of $705,516.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.27% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of R. Janus Henderson Group PLC grew its position in shares of Ryder System by 222.1% in the third quarter. Janus Henderson Group PLC now owns 1,022,619 shares of the transportation company’s stock valued at $74,723,000 after purchasing an additional 705,115 shares in the last quarter. BlackRock Inc. grew its position in shares of Ryder System by 7.8% in the fourth quarter. BlackRock Inc. now owns 6,570,551 shares of the transportation company’s stock valued at $316,370,000 after purchasing an additional 475,667 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Ryder System by 21.0% in the fourth quarter. Pzena Investment Management LLC now owns 2,671,612 shares of the transportation company’s stock valued at $128,638,000 after purchasing an additional 463,706 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Ryder System by 446.3% in the third quarter. Mackenzie Financial Corp now owns 405,373 shares of the transportation company’s stock valued at $29,621,000 after purchasing an additional 331,173 shares in the last quarter. Finally, Luminus Management LLC grew its position in shares of Ryder System by 53.0% in the third quarter. Luminus Management LLC now owns 800,931 shares of the transportation company’s stock valued at $58,524,000 after purchasing an additional 277,320 shares in the last quarter. Institutional investors and hedge funds own 91.19% of the company’s stock.
Ryder System Company Profile
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 ancillary maintenance and fleet support services.
Further Reading: Certificate of Deposit (CD)
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