JPMorgan Chase & Co. Has Lowered Expectations for Ryder System (NYSE:R) Stock Price

Ryder System (NYSE:R) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $176.00 to $174.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.23% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of Ryder System from $160.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.71.

Ryder System Trading Down 1.3 %

R stock traded down $2.20 during mid-day trading on Thursday, hitting $160.77. 80,626 shares of the company were exchanged, compared to its average volume of 333,026. The business has a fifty day simple moving average of $160.31 and a 200-day simple moving average of $151.61. The firm has a market capitalization of $6.80 billion, a P/E ratio of 15.04 and a beta of 1.29. Ryder System has a 12-month low of $106.62 and a 12-month high of $171.78. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.17.

Ryder System (NYSE:R) last released its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.39 by $0.06. Ryder System had a return on equity of 16.78% and a net margin of 3.83%. On average, equities research analysts predict that Ryder System will post 12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in R. Kovitz Investment Group Partners LLC grew its position in shares of Ryder System by 376.5% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 9,764 shares of the transportation company’s stock valued at $1,405,000 after buying an additional 7,715 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Ryder System by 14.3% during the third quarter. Franklin Resources Inc. now owns 136,781 shares of the transportation company’s stock worth $20,724,000 after purchasing an additional 17,074 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Ryder System during the fourth quarter worth about $12,242,000. Janney Montgomery Scott LLC lifted its holdings in shares of Ryder System by 83.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 9,260 shares of the transportation company’s stock valued at $1,350,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of Ryder System by 43.5% in the 3rd quarter. Algert Global LLC now owns 25,547 shares of the transportation company’s stock valued at $3,725,000 after purchasing an additional 7,750 shares during the period. 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.