The Goldman Sachs Group Increases Ryder System (NYSE:R) Price Target to $135.00

Ryder System (NYSE:R) had its target price upped by analysts at The Goldman Sachs Group from $122.00 to $135.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 12.50% from the company’s previous close.

Several other equities analysts also recently commented on R. JPMorgan Chase & Co. boosted their target price on shares of Ryder System from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Wells Fargo & Company upped their price target on shares of Ryder System from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Vertical Research downgraded shares of Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Wednesday, January 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $140.00 price target on shares of Ryder System in a research note on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.71.

Ryder System Stock Performance

NYSE R traded down $2.01 during trading hours on Wednesday, hitting $120.00. 118,341 shares of the company’s stock traded hands, compared to its average volume of 258,015. The business’s fifty day moving average price is $114.26 and its two-hundred day moving average price is $110.58. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $5.31 billion, a P/E ratio of 13.85 and a beta of 1.40. Ryder System has a 52 week low of $76.15 and a 52 week high of $122.94.

Ryder System (NYSE:R) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.43. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.06 billion. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.81 earnings per share. Equities research analysts predict that Ryder System will post 11.9 EPS for the current year.

Insider Buying and Selling at Ryder System

In other news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the transaction, the chief marketing officer now directly owns 12,396 shares in the company, valued at $1,406,698.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in Ryder System by 1,051.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,551,559 shares of the transportation company’s stock worth $272,889,000 after acquiring an additional 2,329,880 shares in the last quarter. Norges Bank purchased a new stake in shares of Ryder System during the fourth quarter valued at about $86,647,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Ryder System during the third quarter valued at about $25,233,000. LSV Asset Management lifted its position in shares of Ryder System by 13.5% during the third quarter. LSV Asset Management now owns 1,570,462 shares of the transportation company’s stock valued at $167,961,000 after buying an additional 187,174 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Ryder System by 29.1% during the fourth quarter. Sei Investments Co. now owns 756,302 shares of the transportation company’s stock valued at $87,024,000 after buying an additional 170,650 shares during the last quarter. 87.47% of the stock is currently owned by 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.