Ryder System (NYSE:R) Given New $126.00 Price Target at JPMorgan Chase & Co.

Ryder System (NYSE:R) had its price target lifted by JPMorgan Chase & Co. from $120.00 to $126.00 in a report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

Several other equities research analysts have also recently issued reports on R. Wells Fargo & Company raised their target price on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. The Goldman Sachs Group restated a buy rating and issued a $122.00 target price on shares of Ryder System in a report on Thursday, February 15th. StockNews.com cut shares of Ryder System from a buy rating to a hold rating in a report on Saturday, April 13th. Robert W. Baird restated a buy rating and issued a $140.00 target price on shares of Ryder System in a report on Wednesday, January 3rd. Finally, Vertical Research cut shares of Ryder System from a buy rating to a hold rating and set a $120.00 target price on the stock. in a report on Wednesday, January 10th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $123.71.

Ryder System Price Performance

Shares of R opened at $121.94 on Wednesday. The company has a market capitalization of $5.34 billion, a P/E ratio of 15.88 and a beta of 1.40. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 2.22. The firm has a 50 day moving average of $115.04 and a 200 day moving average of $110.87. Ryder System has a twelve month low of $76.15 and a twelve month high of $123.45.

Ryder System (NYSE:R) last announced its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.43. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.81 earnings per share. As a group, equities research analysts anticipate that Ryder System will post 11.9 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s dividend payout ratio is presently 36.98%.

Insider Transactions at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of Ryder System stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total transaction of $877,994.76. Following the transaction, the chief marketing officer now owns 12,396 shares in the company, valued at approximately $1,406,698.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. CWM LLC increased its holdings in Ryder System by 33.9% in the 3rd quarter. CWM LLC now owns 438 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 111 shares during the last quarter. SG Americas Securities LLC increased its holdings in Ryder System by 331.2% in the 3rd quarter. SG Americas Securities LLC now owns 9,280 shares of the transportation company’s stock valued at $992,000 after acquiring an additional 7,128 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Ryder System by 406.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock valued at $54,000 after acquiring an additional 406 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Ryder System in the 3rd quarter valued at $243,000. Finally, Handelsbanken Fonder AB increased its holdings in Ryder System by 95.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,026 shares of the transportation company’s stock valued at $751,000 after acquiring an additional 3,426 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

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.