Ryder (R) Touches 52-Week High: What's Driving the Stock?

Shares of Ryder System, Inc. R scaled a 52-week high of $121.58 in the trading session on Apr 4, 2024, before closing a tad lower at $117.62.

Let’s find out the factors supporting the uptick.

Ryder has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 7.42%.

Ryder’s consistent measures to reward its shareholders through dividends and share buybacks are appreciative.  During 2021, Ryder rewarded its shareholders through dividends of $122 million and repurchased shares worth $57 million. In 2022, Ryder paid dividends of $123 million and repurchased shares worth $557 million. In 2023, Ryder paid dividends of $128 million and repurchased shares worth $337 million. Such shareholder-friendly moves instill investor confidence and positively impacts the company's bottom line.

The company’s shares gained 41.1% over the past year.

Zacks Investment Research
Image Source: Zacks Investment Research

The positive sentiment surrounding the stock is evident from the fact that the Zacks Consensus Estimate for current-year earnings has been revised upward by 3.8% over the past 90 days.

Zacks Rank and Stocks to Consider

Currently, Ryder carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the Zacks Transportation sector are Air Lease Corporation (AL), Kirby Corporation KEX and SkyWest, Inc. SKYW. Each stock presently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Air Lease has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 20.15%.

The Zacks Consensus Estimate for 2024 earnings has been revised 27.7% upward over the past 90 days. AL has an expected earnings growth rate of 29.96% for 2024. Shares of AL have gained 31.7% in the past year.

KEX has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 5.75%.

KEX has an expected earnings growth rate of 32.80% for 2024. Shares of KEX have gained 41.6% in the past year.

SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has improved 27.3% over the past 90 days. Shares of SKYW have surged 211.1% in the past year.

SKYW has an expected earnings growth rate of more than 100% for 2024. SKYW delivered a trailing four-quarter earnings surprise of 128.02%, on average.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

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Ryder System, Inc. (R) : Free Stock Analysis Report

Air Lease Corporation (AL) : Free Stock Analysis Report

SkyWest, Inc. (SKYW) : Free Stock Analysis Report

Kirby Corporation (KEX) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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