The Goldman Sachs Group Forecasts Strong Price Appreciation for Ryder System (NYSE:R) Stock

Ryder System (NYSE:R) had its target price lifted by stock analysts at The Goldman Sachs Group from $160.00 to $183.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 10.57% from the stock’s current price.

R has been the topic of a number of other research reports. StockNews.com lowered shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.43.

Ryder System Stock Performance

Ryder System stock opened at $165.51 on Thursday. Ryder System has a fifty-two week low of $106.62 and a fifty-two week high of $171.78. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 15.48 and a beta of 1.30. The stock has a fifty day moving average of $157.10 and a two-hundred day moving average of $140.78. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.74 and a current ratio of 0.74.

Ryder System (NYSE:R) last posted its quarterly earnings data on Thursday, October 24th. The transportation company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.39 by $0.05. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Ryder System had a return on equity of 16.78% and a net margin of 3.83%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.58 EPS. On average, analysts anticipate that Ryder System will post 12.01 EPS for the current fiscal year.

Insider Buying and Selling at Ryder System

In related news, insider Thomas M. Havens sold 4,000 shares of Ryder System stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $157.44, for a total transaction of $629,760.00. Following the transaction, the insider now owns 20,504 shares in the company, valued at approximately $3,228,149.76. The trade was a 16.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in R. Wolff Wiese Magana LLC acquired a new position in Ryder System in the 3rd quarter worth $28,000. Altshuler Shaham Ltd purchased a new stake in shares of Ryder System during the second quarter worth about $29,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Ryder System in the third quarter worth about $34,000. UMB Bank n.a. lifted its stake in shares of Ryder System by 43.2% in the third quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock worth $39,000 after acquiring an additional 80 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Ryder System in the second quarter valued at about $51,000. 87.47% of the stock is owned by hedge funds and other institutional investors.

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.