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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

GS

Goldman Sachs

$220.75

5.47 (2.54%)

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DLTR

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Dollar General

$110.50

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CAG

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$36.10

0.2725 (0.76%)

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Pinnacle Foods

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CRON

Cronos Group

$11.66

-0.07 (-0.60%)

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ABC

AmerisourceBergen

$90.56

0.98 (1.09%)

, WBA

Walgreens Boots Alliance

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0.8 (1.07%)

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Walgreens Boots Alliance

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CJREF

Corus Entertainment

$0.00

(0.00%)

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13:49
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DVMT

Dell Technologies

$95.51

0.52 (0.55%)

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Periodicals
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U.S. corporate bond update: several financials are on tap »

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FDC

First Data

$23.61

0.56 (2.43%)

13:40
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Options
8K First Data Jan 25 - 27 call spreads trade for 55c »

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SNE

Sony

$57.24

0.99 (1.76%)

, BTC

Bitcoin

$0.00

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SNE

Sony

$57.24

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TTWO

Take-Two

$131.41

3.43 (2.68%)

, ATVI

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$131.41

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ATVI

Activision Blizzard

$77.79

2.09 (2.76%)

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WHR

Whirlpool

$108.01

2.6 (2.47%)

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Periodicals
AHAM reports U.S. shipments of major home appliances down 0.4% in September »

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SYMC

Symantec

$20.20

0.42 (2.12%)

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Options
Symantec call volume above normal and directionally bullish »

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SGRY

Surgery Partners

$14.56

0.34 (2.39%)

, UNH

UnitedHealth

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UnitedHealth

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$26.32

0.69 (2.69%)

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IBM

IBM

$144.39

3.27 (2.32%)

, AMZN

Amazon.com

$1,799.99

39 (2.21%)

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IBM

IBM

$144.39

3.27 (2.32%)

AMZN

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$1,799.99

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MSFT

Microsoft

$110.61

3.01 (2.80%)

ORCL

Oracle

$48.18

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GOOG

Alphabet

$1,117.65

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$1,130.17

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$3.59

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XENT

Intersect ENT

$28.91

-1 (-3.34%)

, REGN

Regeneron

$396.44

18.64 (4.93%)

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Recommendations
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XENT

Intersect ENT

$28.91

-1 (-3.34%)

REGN

Regeneron

$396.44

18.64 (4.93%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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DUK

Duke Energy

$81.02

0.89 (1.11%)

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AAPL

Apple

$219.86

2.59 (1.19%)

, ZTCOY

ZTE Corp.

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ZTE Corp.

$0.00

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13:05
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Euro$ interest rate futures are idling sideways »

Euro$ interest rate…

WHR

Whirlpool

$108.28

2.87 (2.72%)

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  • 15

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AXSM

Axsome Therapeutics

$3.38

0.04 (1.20%)

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