The Vanguard Group, Inc. recently announced the acquisition of new stake in Ryder System Inc. (NYSE:R). The institutional investor has increased its shareholding in the Industrials company by 1.84% to 5.6 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 11.14% valued currently at $467.62 million. In addition, SSgA Funds Management, Inc. raised its holdings by 7748.0 to 1.66 million shares. And LSV Asset Management has lifted its position by 6.49% or 79100.0 shares – to 1.3 million shares.
With over 0.29 million Ryder System Inc. (R) shares trading Tuesday and a closing price of $92.64 on the day, the dollar volume was approximately $26.71 million. The shares have shown a positive half year performance of 29.10% and its price on 01/17/23 gained nearly 1.39%. Currently, there are 49.81M common shares owned by the public and among those 49.80M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for R have a consensus price objective of $92.00. The analysts have set the share’s price value over the next 12 months at a high of $100.00 and a low of $81.00. The average price target is -0.7% below its recent price level and a downside to the estimated low will see the stock lose -14.37% over that period. But an upside of 7.36% will see the stock hit the forecast high price target while median target price for the stock is $92.00.
Insiders at the company have transacted a total of 112 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 51 of these insider trades were purchases, accounting for 391,473 shares. Insider sales of the common stock occurred on 61 occasions, with total insider shares sold totaling 278,897 shares.
The top 3 mutual fund holders in Ryder System Inc. are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 1.55 million shares of the company’s stock, all valued at over $129.56 million. The company sold 295.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Vanguard Total Stock Market Index bought 1562.0 shares to see its total holdings expand to 1.46 million shares valued at over $121.95 million and representing 2.90% of the shares outstanding. Vanguard Small Cap Index Fund bought 1804.0 shares to bring its total holdings to over 1.26 million shares at a value of $105.03 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.50% of the shares outstanding.
Shares of Ryder System Inc. (NYSE: R) opened at $90.95, down -$0.42 from a prior closing price of $91.37. However, the script later moved the day high at 93.17, up 1.39%. The company’s stock has a 5-day price change of 9.96% and 21.19% over the past three months. R shares are trading 10.85% year to date (YTD), with the 12-month market performance up to 16.53% higher. It has a 12-month low price of $61.71 and touched a high of $97.26 over the same period. R has an average intraday trading volume of 435.85K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.33%, 6.99%, and 18.48% respectively.
Institutional ownership of Ryder System Inc. (NYSE: R) shares accounts for 87.80% of the company’s 49.81M shares outstanding. Mutual fund holders own 41.59%, while other institutional holders and individual stakeholders account for 44.38% and 3.53% respectively.
It has a market capitalization of $4.61B and a beta (3y monthly) value of 1.61. The stock’s trailing 12-month PE ratio is 5.70, while the earnings-per-share (ttm) stands at $16.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.53% over the week and 2.20% over the month.
Analysts forecast that Ryder System Inc. (R) will achieve an EPS of $3.38 for the current quarter, $2.89 for the next quarter and $11 for 2023. The lowest estimate earnings-per-share for the quarter is $3.12 while analysts give the company a high EPS estimate of $3.88. Comparatively, EPS for the current quarter was $3.52 a year ago. Earnings per share for the fiscal year are expected to increase by 661.70%, and -31.65% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Ryder System Inc. (R) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 6 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the R, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on January 10, 2023, with the firm’s price target at $100. Wolfe Research was of a view on April 05, 2022 that the stock is Underperform, while Robert W. Baird gave the stock Neutral rating on January 05, 2022, issuing a price target of $96- $90. Stifel on their part issued Hold rating on June 22, 2021.