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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).


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