Ryder System, Inc. (NYSE:R) Sees Significant Decline in Short Interest

Ryder System, Inc. (NYSE:R) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 684,700 shares, a decrease of 24.8% from the November 15th total of 910,700 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 267,300 shares, the short-interest ratio is presently 2.6 days.

Analysts Set New Price Targets

A number of equities analysts have commented on R shares. JPMorgan Chase & Co. reduced their target price 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. The Goldman Sachs Group boosted their price objective on shares of Ryder System from $160.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, StockNews.com downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.43.

Insiders Place Their Bets

In other news, insider Thomas M. Havens sold 4,000 shares of the firm’s 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 transaction, the insider now owns 20,504 shares in the company, valued at approximately $3,228,149.76. This trade represents a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC purchased a new position in Ryder System in the 3rd quarter valued at about $28,000. Altshuler Shaham Ltd purchased a new stake in shares of Ryder System during the second quarter worth approximately $29,000. Wilmington Savings Fund Society FSB acquired a new position in Ryder System in the 3rd quarter valued at $34,000. UMB Bank n.a. lifted its holdings in Ryder System by 43.2% in the 3rd quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 80 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Ryder System during the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Ryder System Stock Performance

NYSE:R traded down $1.05 during mid-day trading on Friday, hitting $165.67. The company’s stock had a trading volume of 241,618 shares, compared to its average volume of 263,210. The business’s fifty day moving average is $157.10 and its two-hundred day moving average is $140.92. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 15.50 and a beta of 1.30. Ryder System has a 1 year low of $106.62 and a 1 year high of $171.78. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.74 and a quick ratio of 0.74.

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

Ryder System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, November 18th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, November 18th. Ryder System’s payout ratio is currently 30.31%.

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.