Ryder System Sees Unusually High Options Volume (NYSE:R)

Ryder System, Inc. (NYSE:R) saw some unusual options trading activity on Wednesday. Investors bought 384 put options on the stock. This represents an increase of approximately 638% compared to the average volume of 52 put options.

Ryder System (NYSE:R) opened at $89.82 on Friday. The firm has a market cap of $4,728.23, a price-to-earnings ratio of 21.16, a PEG ratio of 1.11 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.96 and a current ratio of 1.02. Ryder System has a twelve month low of $62.52 and a twelve month high of $90.00.

Ryder System (NYSE:R) last announced its earnings results on Tuesday, October 24th. The transportation company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 EPS. sell-side analysts forecast that Ryder System will post 4.51 earnings per share for the current fiscal year.

Ryder System announced that its board has initiated a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase 1,500,000 outstanding shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have issued reports on R shares. Zacks Investment Research upgraded shares of Ryder System from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $98.00 target price (up previously from $84.00) on shares of Ryder System in a research report on Monday, October 2nd. JPMorgan Chase & Co. increased their target price on shares of Ryder System from $69.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Finally, Aegis reiterated a “buy” rating and issued a $91.00 target price (up previously from $84.00) on shares of Ryder System in a research report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Ryder System has a consensus rating of “Hold” and an average price target of $85.00.

In other news, insider Dennis C. Cooke sold 32,328 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total value of $2,633,438.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Karen M. Jones sold 4,790 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $81.78, for a total transaction of $391,726.20. The disclosure for this sale can be found here. Insiders sold 63,633 shares of company stock worth $5,174,795 in the last 90 days. 1.95% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Ryder System by 41.7% during the 2nd quarter. BlackRock Inc. now owns 5,010,932 shares of the transportation company’s stock valued at $360,685,000 after acquiring an additional 1,475,138 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Ryder System by 3.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,788,271 shares of the transportation company’s stock valued at $151,198,000 after acquiring an additional 53,772 shares in the last quarter. Fiduciary Management Inc. WI boosted its position in shares of Ryder System by 13.6% during the 2nd quarter. Fiduciary Management Inc. WI now owns 1,211,960 shares of the transportation company’s stock valued at $87,237,000 after acquiring an additional 145,219 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Ryder System by 22.6% during the 3rd quarter. Schroder Investment Management Group now owns 1,073,478 shares of the transportation company’s stock valued at $90,182,000 after acquiring an additional 198,098 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Ryder System by 13.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 844,807 shares of the transportation company’s stock valued at $60,809,000 after acquiring an additional 102,324 shares in the last quarter. Institutional investors own 89.35% of the company’s stock.

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About Ryder System

Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.

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