Ryder System (R) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 73 from a previous price target of $54 . RBC Capital Mkts advised their investors in a research report released on Apr 27, 2016.
Many Wall Street Analysts have commented on Ryder System. Ryder System was Initiated by JP Morgan to “Neutral” on Feb 29, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 3, 2016 to “Sector Perform” and Lowered the Price Target to $ 54 from a previous price target of $58 .
On the company’s financial health, Ryder System reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.05. The company had revenue of $1629.70 million for the quarter, compared to analysts expectations of $1605.49 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.
Ryder System opened for trading at $66.28 and hit $67.43 on the upside on Friday, eventually ending the session at $67.18, with a gain of 1.90% or 1.25 points. The heightened volatility saw the trading volume jump to 6,30,128 shares. Company has a market cap of $3,594 M.
In a different news, on Feb 22, 2016, Art A Garcia (EVP & Chief Financial Officer) sold 2,000 shares at $56.38 per share price. According to the SEC, on May 6, 2015, Robert E Sanchez (Chair and CEO) sold 17,550 shares at $96.75 per share price. On Mar 2, 2015, Robert D Fatovic (EVP, CLO & Corp. Secretary) sold 4,000 shares at $94.28 per share price, according to the Form-4 filing with the securities and exchange commission.
Ryder System Inc. (Ryder) is engaged in offering commercial fleet management and supply chain solutions. Ryder operates in two segments: Fleet Management Solutions (FMS) and Supply Chain Solutions (SCS). The Fleet Management Solutions segment provides service leasing commercial rental contract maintenance and contract-related maintenance of trucks tractors and trailers to customers in the United States Canada and the United Kingdom. The Supply Chain Solutions segment provides supply chain solutions including distribution and transportation services in North America and Asia. The Supply Chain Solutions segment also provides services which includes vehicles and drivers as part of a transportation solution in the United States. In addition the Company’s SCS business as well as its FMS business provides customers with capacity management services.