Ryder System, Inc. (R) Downgraded by BidaskClub to “Buy”

Ryder System, Inc. (NYSE:R) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Monday, July 24th.

R has been the topic of a number of other research reports. Zacks Investment Research raised shares of Ryder System from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Seaport Global Securities began coverage on shares of Ryder System in a report on Friday, April 21st. They set a “neutral” rating on the stock. ValuEngine upgraded shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Stephens cut shares of Ryder System from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $81.00 to $71.00 in a research note on Wednesday, April 26th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $77.00.

Ryder System (NYSE:R) opened at 71.94 on Monday. The stock has a 50 day moving average of $72.96 and a 200-day moving average of $72.07. Ryder System has a 1-year low of $62.03 and a 1-year high of $85.42. The company has a market cap of $3.81 billion, a PE ratio of 17.32 and a beta of 1.39.

Ryder System (NYSE:R) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.07. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 EPS. On average, equities research analysts predict that Ryder System will post $4.44 earnings per share for the current year.

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In related news, insider Dennis C. Cooke sold 9,650 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $72.75, for a total value of $702,037.50. Following the sale, the insider now owns 2,883 shares in the company, valued at $209,738.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert E. Sanchez sold 26,275 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $72.43, for a total value of $1,903,098.25. Following the completion of the sale, the chief executive officer now owns 107,237 shares in the company, valued at approximately $7,767,175.91. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Ryder System by 5,520.5% in the first quarter. BlackRock Inc. now owns 3,535,794 shares of the transportation company’s stock worth $266,741,000 after buying an additional 3,472,885 shares during the period. Wells Fargo & Company MN increased its stake in shares of Ryder System by 50.3% in the first quarter. Wells Fargo & Company MN now owns 2,325,451 shares of the transportation company’s stock worth $175,432,000 after buying an additional 777,840 shares during the period. 1060 Capital LLC bought a new stake in shares of Ryder System during the first quarter worth about $23,678,000. Vanguard Group Inc. increased its stake in shares of Ryder System by 3.7% in the first quarter. Vanguard Group Inc. now owns 6,246,709 shares of the transportation company’s stock worth $471,252,000 after buying an additional 221,478 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Ryder System by 34.3% in the first quarter. AQR Capital Management LLC now owns 786,370 shares of the transportation company’s stock worth $59,323,000 after buying an additional 200,714 shares during the period. 93.05% of the stock is owned by institutional investors and hedge funds.

About Ryder System

Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.

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