Equities research analysts at Citigroup have raised their price target for Ryder System (NYSE:R) from $196.00 to $218.00. This adjustment was disclosed in a research note issued to investors on October 27, 2023. The new target implies a potential upside of approximately 14.3% based on Ryder’s current stock price. Citigroup maintains a “buy” rating on the transportation company’s stock, suggesting confidence in its future performance.
Several other analysts have also recently provided insights into Ryder System. On December 5, 2023, Wells Fargo & Company initiated coverage on Ryder with an “overweight” rating and set a price target of $210.00. Additionally, JPMorgan Chase & Co. increased their price target from $194.00 to $197.00, giving the stock a “neutral” rating in a report published on October 24, 2023. Other firms, such as Wall Street Zen and Weiss Ratings, have upgraded their ratings, with Wall Street Zen moving from a “hold” to a “buy” on October 3, 2023, and Weiss reaffirming a “buy (b)” rating on October 8, 2023. Barclays also lifted its price target from $190.00 to $220.00 on October 2, 2023, maintaining an “overweight” rating.
Overall, the consensus among analysts indicates a strong outlook for Ryder System. Currently, one analyst has issued a “Strong Buy” rating, while eight others have rated it as a “Buy,” and two have assigned a “Hold” rating. According to data from MarketBeat.com, Ryder System holds an average rating of “Moderate Buy” and a consensus target price of $205.67.
Ryder System’s Recent Financial Performance
Ryder System released its quarterly earnings results on October 23, 2023, reporting earnings per share (EPS) of $3.57, slightly above the consensus estimate of $3.56. The company recorded revenues of $2.61 billion for the quarter, which fell short of analyst expectations of $3.19 billion. Despite this, Ryder achieved a return on equity of 17.69% and a net profit margin of 3.96%. The revenue for this quarter showed a marginal increase of 0.1% compared to the same quarter last year, where the firm reported an EPS of $3.44.
Looking ahead, Ryder System has provided guidance for the fourth quarter of 2025, expecting an EPS between $3.500 and $3.700. The company estimates an EPS of $12.850 to $13.050 for the full fiscal year of 2025. Analysts project Ryder will achieve an EPS of $13.68 for the current year.
Institutional Ownership Trends
Recent changes in institutional trading highlight growing interest in Ryder System. Notably, Valeo Financial Advisors LLC dramatically increased its holdings by 51,455.2% in the second quarter, acquiring an additional 2,862,970 shares, bringing its total to 2,868,534 shares valued at approximately $456.1 million. State Street Corp also expanded its stake by 0.4%, now owning 1,995,292 shares worth around $317.3 million.
Other institutional investors have similarly adjusted their positions. Orbis Allan Gray Ltd raised its stake by 15.4%, holding 1,005,382 shares valued at about $159.9 million, while Bank of America Corp DE increased its position by 6.7%, acquiring 988,117 shares worth roughly $157.1 million.
These developments indicate that institutional investors collectively hold approximately 87.47% of Ryder System’s stock, reflecting strong confidence in the company’s strategic direction and market potential.
Ryder System, headquartered in Miami, Florida, has established itself as a key player in transportation and supply chain solutions since its founding in 1933. With a diverse portfolio that includes fleet management and supply chain solutions, the company continues to adapt to the evolving logistics landscape, ensuring it remains competitive in the global market.
