Investors Purchase Large Volume of Ryder System Put Options (R)
Ryder System, Inc. (NYSE:R) was the target of unusually large options trading activity on Wednesday. Traders bought 384 put options on the stock. This represents an increase of 638% compared to the typical daily volume of 52 put options.
In related news, EVP John J. Gleason sold 8,760 shares of Ryder System stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $78.30, for a total transaction of $685,908.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert D. Fatovic sold 17,755 shares of Ryder System stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $82.44, for a total transaction of $1,463,722.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,633 shares of company stock worth $5,174,795. 1.95% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Ryder System by 14.5% in the 2nd quarter. Legal & General Group Plc now owns 89,381 shares of the transportation company’s stock valued at $6,433,000 after acquiring an additional 11,344 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Ryder System in the 2nd quarter valued at $1,324,000. Federated Investors Inc. PA increased its stake in shares of Ryder System by 6,662.8% in the 2nd quarter. Federated Investors Inc. PA now owns 40,374 shares of the transportation company’s stock valued at $2,906,000 after acquiring an additional 39,777 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Ryder System by 12.0% in the 2nd quarter. Pacer Advisors Inc. now owns 7,282 shares of the transportation company’s stock valued at $524,000 after acquiring an additional 779 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ryder System by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock valued at $141,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.
Ryder System (NYSE:R) last issued its quarterly earnings results on Tuesday, October 24th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.67 EPS. equities research analysts forecast that Ryder System will post 4.51 earnings per share for the current fiscal year.
Ryder System declared that its Board of Directors has initiated a share buyback program on Thursday, December 14th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Ryder System from a “hold” rating to a “sell” 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 Friday, November 10th. Buckingham Research boosted their price target on shares of Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. JPMorgan Chase & Co. boosted their price target 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 restated a “buy” rating and issued a $91.00 price target (up previously from $84.00) on shares of Ryder System in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $85.00.
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Ryder System Company Profile
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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