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R

Ryder

$73.69

0.49 (0.67%)

16:31
06/18/18
06/18
16:31
06/18/18
16:31

Ryder acquires Metro Truck & Tractor Leasing, terms not stated

Ryder System announced it has completed the acquisition of all outstanding equity of Metro Truck & Tractor Leasing. Ryder will now operate Metro's two Maryland facilities in Beltsville and Baltimore, which provide truck leasing, rental, and maintenance services to more than 150 customers with a fleet of approximately 900 units. As part of this acquisition, Ryder purchased mobile maintenance vehicles that will provide maintenance services to customers in and around Baltimore and Washington, D.C. With Ryder Mobile Maintenance, Ryder goes to the customer, wherever they may be, with fully-equipped vehicles that provide customized maintenance to ensure fleet uptime. The acquisition, completed on June 15, 2018, is expected to be slightly accretive to earnings this year. Ryder anticipates additional earnings improvement in future years due to synergies and operational improvements within the combined companies, as well as from growth opportunities with Metro's current customers and prospects in the Maryland market.

R Ryder
$73.69

0.49 (0.67%)

04/05/18
JPMS
04/05/18
DOWNGRADE
Target $65
JPMS
Underweight
Ryder downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Brian Ossenbeck downgraded Ryder System to Underweight and cut his price target for the shares to $65 from $73. The analyst is making a "longer term call on 2019 expectations," which he believes are too high and embed "significant gains on residual values and used truck sales." Into the Q1 earnings season, the analyst is more cautious on the Class I rails and intermodal providers as "rail service levels remain anemic."
04/05/18
04/05/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Hold from Buy at Stifel with analyst Kevin Cassidy citing the peaking server central processing unit cycle and valuation for the downgrade. 2. Johnson Controls (JCI) downgraded to Underperform from Sector Perform at RBC Capital with analyst Deane Dray citing the company's exposure to additional cash flow pressures in fiscal 2018, reduction in fiscal 2020 targets, and a market rotation toward "more defensive names." 3. Ryder (R) downgraded to Underweight from Neutral at JPMorgan with analyst Brian Ossenbeck saying he is making a "longer term call on 2019 expectations," which he believes are too high and embed "significant gains on residual values and used truck sales." 4. Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Buy at BofA/Merrill with analyst Elizabeth Suzuki saying valuation is getting "richer," quarterly comps have been decelerating since 2015, and are now expected to be 1%-2% in 2018. 5. Biogen (BIIB), Pfizer (PFE), Biohaven (BHVN), and Myovant Sciences (MYOV) were downgraded to Equal Weight from Overweight at Barclays. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/10/18
GSCO
04/10/18
INITIATION
Target $73
GSCO
Neutral
Ryder initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Matt Reustle started Ryder with a Neutral rating and $73 price target. The analyst wants to see more evidence of a used truck market recovery being getting more constructive on the shares. Reustle this morning initiated the Truck sector with a Neutral coverage view, saying it is "too early to fade the trucking cycle."
05/02/18
DBAB
05/02/18
NO CHANGE
Target $133
DBAB
Buy
Deutsche sees last mile competition having 'muted' impact on XPO
Deutsche Bank analyst Amit Mehrotra highlights a Reuters report saying UPS (UPS) and Werner Enterprises (WERN) are in in talks to partner on a new in-home delivery service for bulk goods. This development follows Ryder's (R) acquisition last month of MXD Group, Mehrotra tells investors in an intraday research note. The analyst sees implications for XPO, noting the company's last mile delivery of heavy goods is one of its fastest growing businesses. Despite the headline risks, fundamental implications for XPO are likely "muted," Mehrotra contends. He believes XPO has built a competitive advantage around its owned service center model and sees the heavy goods last mile market, estimated at $13B per annum and growing at 10%-15%, as allowing for more entrants without much impact to existing players. XPO in morning trading is down 2% to $93.89. Mehrotra has a Buy rating on the shares with a $133 price target.

TODAY'S FREE FLY STORIES

VR

Validus

$67.99

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CARA

Cara Therapeutics

$20.00

-1.6 (-7.41%)

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  • 19

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NCLH

Norwegian Cruise Line

$50.01

2.43 (5.11%)

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KMI

Kinder Morgan

$17.77

0.08 (0.45%)

15:34
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Kinder Morgan options imply 4.4% move in share price post-earnings, above median historical move »

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  • 18

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MDR

McDermott

$17.99

-0.05 (-0.28%)

15:30
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  • 31

    Jul

OMC

Omnicom

$70.32

-0.37 (-0.52%)

15:20
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Heavy Omnicom option volume likely adjusts open positions »

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  • 09

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AXP

American Express

$102.70

1.56 (1.54%)

15:19
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Options
American Express options imply 5.3% move in share price post-earnings, above median historical move »

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  • 18

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BPL

Buckeye Partners

$33.37

-1.58 (-4.52%)

15:17
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Moody's changes Buckeye Partners' outlook to negative from stable »

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  • 03

    Aug

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
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Technical Analysis
NYSE market internals summary »

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PZZA

Papa John's

$50.98

-0.56 (-1.09%)

, WEN

Wendy's

$17.53

0.105 (0.60%)

15:13
07/18/18
07/18
15:13
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15:13
Periodicals
Papa John's founder held merger discussions with Wendy's, WSJ reports »

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PZZA

Papa John's

$50.98

-0.56 (-1.09%)

WEN

Wendy's

$17.53

0.105 (0.60%)

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  • 18

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CCK

Crown Holdings

$45.16

-0.22 (-0.48%)

15:10
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Options
Third day of call buying in Crown Holdings ahead of earnings »

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  • 19

    Jul

BIIB

Biogen

$356.40

1.46 (0.41%)

15:06
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Biogen presented as best idea by Alex Denner, CNBC says »

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  • 24

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PZZA

Papa John's

$51.02

-0.52 (-1.01%)

, WEN

Wendy's

$17.52

0.1 (0.57%)

15:05
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15:05
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Periodicals
Breaking Periodicals news story on Papa John's, Wendy's »

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Papa John's

$51.02

-0.52 (-1.01%)

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Wendy's

$17.52

0.1 (0.57%)

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  • 18

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  • 15

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IBM

IBM

$144.11

0.65 (0.45%)

, GRPN

Groupon

$4.70

0.07 (1.51%)

15:04
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On The Fly: What to watch for in IBM's earnings report »

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IBM

IBM

$144.11

0.65 (0.45%)

GRPN

Groupon

$4.70

0.07 (1.51%)

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  • 18

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EBAY

eBay

$38.08

0.26 (0.69%)

15:04
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Options
EBay options imply 10.0% move in share price post-earnings, above median historical move »

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  • 18

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Treasury Closing Summary: »

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ABUS

Arbutus Biopharma

$11.30

-0.05 (-0.44%)

14:58
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Conference/Events
Arbutus Biopharma management to meet with Jefferies »

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  • 18

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  • 19

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MSEX

Middlesex Water

$44.59

-0.04 (-0.09%)

14:56
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Middlesex Water unit awarded City of Perth Amboy contract »

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PSXP

Phillips 66 Partners

$51.48

1.51 (3.02%)

14:53
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Hot Stocks
Phillips 66 Partners announces 5.3% increase in quarterly distribution »

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  • 27

    Jul

TTWO

Take-Two

$126.13

-0.6 (-0.47%)

14:50
07/18/18
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14:50
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Periodicals
Greenberg presents Take-Two as best idea at 'Delivering Alpha' »

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  • 02

    Aug

  • 06

    Sep

GOGO

Gogo

$3.96

0.2 (5.32%)

14:50
07/18/18
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14:50
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14:50
Options
Rebound in shares of GOGO Wireless draws opening put seller »

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IBM

IBM

$143.99

0.53 (0.37%)

14:49
07/18/18
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Options
IBM options imply 6.6% move in share price post-earnings, above median historical move »

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  • 18

    Jul

  • 06

    Aug

OMED

OncoMed

$2.40

0.04 (1.69%)

14:48
07/18/18
07/18
14:48
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14:48
Conference/Events
OncoMed management to meet with Jefferies »

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  • 18

    Jul

GOOG

Alphabet

$1,200.98

2.17 (0.18%)

, GOOGL

Alphabet Class A

$1,217.97

4.32 (0.36%)

14:42
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Periodicals
FTC chairman to look 'closely' at EU's move to fine Google, Reuters says »

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GOOG

Alphabet

$1,200.98

2.17 (0.18%)

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$1,217.97

4.32 (0.36%)

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  • 23

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  • 18

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