Ryder System (NYSE:R) Given New $65.00 Price Target at SunTrust Banks

Ryder System (NYSE:R) had its price target reduced by equities researchers at SunTrust Banks to $65.00 in a research report issued on Wednesday, The Fly reports. The firm currently has a “buy” rating on the transportation company’s stock. SunTrust Banks’ price objective points to a potential upside of 27.18% from the company’s current price. SunTrust Banks also issued estimates for Ryder System’s Q2 2020 earnings at $1.52 EPS and Q3 2020 earnings at $1.86 EPS.

R has been the topic of a number of other reports. ValuEngine downgraded shares of Ryder System from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Ryder System from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. KeyCorp dropped their price target on shares of Ryder System from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. Loop Capital downgraded shares of Ryder System from a “buy” rating to a “hold” rating and dropped their price target for the stock from $70.00 to $62.00 in a research report on Tuesday, July 2nd. Finally, TheStreet downgraded shares of Ryder System from a “b-” rating to a “c+” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $73.50.

Shares of R stock traded up $0.46 during midday trading on Wednesday, reaching $51.11. 3,903 shares of the company were exchanged, compared to its average volume of 444,739. Ryder System has a 12 month low of $44.80 and a 12 month high of $79.95. The stock has a market capitalization of $2.85 billion, a P/E ratio of 8.71 and a beta of 1.81. The business has a 50 day simple moving average of $56.74. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.54 and a current ratio of 0.99.

Ryder System (NYSE:R) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.40 EPS for the quarter, hitting analysts’ consensus estimates of $1.40. Ryder System had a net margin of 3.60% and a return on equity of 11.51%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm earned $1.42 EPS. Ryder System’s revenue was up 7.5% on a year-over-year basis. Equities research analysts predict that Ryder System will post 5.82 EPS for the current year.

In other news, EVP Karen M. Jones sold 1,767 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $52.21, for a total transaction of $92,255.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director E Follin Smith sold 1,138 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $62.82, for a total transaction of $71,489.16. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its position in Ryder System by 0.3% during the second quarter. Retirement Systems of Alabama now owns 69,328 shares of the transportation company’s stock valued at $4,042,000 after purchasing an additional 183 shares in the last quarter. Nordea Investment Management AB grew its position in Ryder System by 3.8% in the first quarter. Nordea Investment Management AB now owns 67,335 shares of the transportation company’s stock worth $4,173,000 after acquiring an additional 2,434 shares in the last quarter. Rothschild & Co. Asset Management US Inc. grew its position in Ryder System by 3.8% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 309,203 shares of the transportation company’s stock worth $19,167,000 after acquiring an additional 11,386 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ryder System in the first quarter worth approximately $510,000. Finally, Allstate Corp bought a new stake in Ryder System in the first quarter worth approximately $207,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.

See Also: Liquidity

The Fly

Analyst Recommendations for Ryder System (NYSE:R)

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