The Goldman Sachs Group Raises Ryder System (NYSE:R) Price Target to $183.00

Ryder System (NYSE:R) had its target price lifted by equities researchers at The Goldman Sachs Group from $160.00 to $183.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 10.57% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price target on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.43.

Ryder System Stock Performance

Shares of Ryder System stock opened at $165.51 on Thursday. 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 has a 1 year low of $106.62 and a 1 year high of $171.78. The firm’s 50-day simple moving average is $157.10 and its 200-day simple moving average is $140.78. The firm has a market cap of $7.00 billion, a PE ratio of 15.48 and a beta of 1.30.

Ryder System (NYSE:R) last announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.39 by $0.05. The firm had revenue of $3.17 billion for 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%. Ryder System’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.58 earnings per share. Equities analysts forecast that Ryder System will post 12.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ryder System news, insider Thomas M. Havens sold 4,000 shares of Ryder System stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $157.44, for a total transaction of $629,760.00. Following the sale, the insider now owns 20,504 shares of the company’s stock, valued at $3,228,149.76. The trade was a 16.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 business. Wolff Wiese Magana LLC acquired a new stake in Ryder System in the third quarter worth about $28,000. Altshuler Shaham Ltd bought a new stake in shares of Ryder System during the 2nd quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Ryder System during the 3rd quarter worth about $34,000. UMB Bank n.a. lifted its stake in shares of Ryder System by 43.2% in the 3rd quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock worth $39,000 after acquiring an additional 80 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Ryder System in the second quarter valued at approximately $51,000. 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.