Send me real-time posts from this site at my email

Ryder (R) Moves 14.7% Higher: Will This Strength Last?

Ryder (R) shares rallied 14.7% in the last trading session to close at $76.28. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 17.5% loss over the past four weeks.

The uptick was led by reports that Apollo Global Management was mulling over purchasing Ryder.  No further details are available till now.

This truck leasing company is expected to post quarterly earnings of $3.70 per share in its upcoming report, which represents a year-over-year change of +45.1%. Revenues are expected to be $2.93 billion, up 19.4% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Ryder, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on R going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Ryder is a member of the Zacks Transportation - Equipment and Leasing industry. One other stock in the same industry, Triton International (TRTN), finished the last trading session 1.6% higher at $54.88. TRTN has returned -12.4% over the past month.

For Triton, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.76. This represents a change of +13.6% from what the company reported a year ago. Triton currently has a Zacks Rank of #3 (Hold).

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.

Free: See Our Top Stock And 4 Runners Up

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ryder System, Inc. (R): Free Stock Analysis Report
Triton International Limited (TRTN): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue