JPMorgan Chase & Co. Lowers Ryder System (NYSE:R) Price Target to $144.00

Ryder System (NYSE:R) had its target price reduced by analysts at JPMorgan Chase & Co. from $148.00 to $144.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 3.03% from the stock’s previous close.

R has been the topic of several other reports. Robert W. Baird lifted their price objective on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com upgraded shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Finally, Stephens started coverage on shares of Ryder System in a research note on Monday, July 8th. They set an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.57.

Ryder System Price Performance

R stock opened at $139.76 on Friday. The stock has a 50-day simple moving average of $142.94 and a 200-day simple moving average of $131.02. The firm has a market cap of $6.13 billion, a P/E ratio of 18.20 and a beta of 1.28. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.74 and a current ratio of 0.74. Ryder System has a 1 year low of $91.31 and a 1 year high of $154.76.

Ryder System (NYSE:R) last posted its quarterly earnings data on Thursday, October 24th. The transportation company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.39 by $0.05. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.29 billion. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.58 earnings per share. On average, equities analysts predict that Ryder System will post 12.2 earnings per share for the current fiscal year.

Insider Activity

In other Ryder System news, EVP Francisco Jr. Lopez sold 12,730 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $139.32, for a total value of $1,773,543.60. Following the transaction, the executive vice president now owns 47,779 shares of the company’s stock, valued at $6,656,570.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Ryder System

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Ryder System by 2.1% in the first quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock valued at $627,800,000 after purchasing an additional 109,930 shares during the period. Earnest Partners LLC increased its position in Ryder System by 3.4% in the 2nd quarter. Earnest Partners LLC now owns 1,915,544 shares of the transportation company’s stock valued at $237,298,000 after acquiring an additional 62,815 shares during the period. Dimensional Fund Advisors LP raised its stake in Ryder System by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,722,222 shares of the transportation company’s stock valued at $213,345,000 after acquiring an additional 31,550 shares in the last quarter. American Century Companies Inc. boosted its position in Ryder System by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 890,877 shares of the transportation company’s stock worth $110,362,000 after acquiring an additional 17,009 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Ryder System by 4.7% in the second quarter. Sei Investments Co. now owns 847,581 shares of the transportation company’s stock worth $104,997,000 after purchasing an additional 37,991 shares in the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

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.