We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ryder (R) Expands Fleet Management With Metro Truck Buyout
Read MoreHide Full Article
Ryder System, Inc. (R - Free Report) recently completed the acquisition of Metro Truck & Tractor Leasing (Metro), a company with a fleet of approximate 900 units, providing truck leasing, rental and maintenance services to more than 150 customers.
Following the buyout, Ryder will now operate two of Metro’s Maryland facilities in Beltsville and Baltimore. Per the agreement, the company bought mobile maintenance vehicles to provide maintenance services to customers located in and around Baltimore and Washington, D.C. Ryder Mobile Maintenance is a fleet management solution technique wherein fully-equipped vehicles reach a customer’s location, providing tailor-made maintenance facilities to ensure fleet uptime.
The transaction allows Ryder to expand its footprint in the Baltimore Metro Area where demand for fleet management services is increasingly high.
The acquisition is anticipated to be marginally accretive to the company’s earnings in the current year. Also, banking on synergies and operational enhancements within the combined entity besides growth opportunities with Metro’s existing customers and prospects in the Maryland area, the company expects further improvement in its bottom line in the coming years.
We remind investors that in April, Ryder closed the acquisition of MXD Group for $120 million. Per the agreement, the company acquired 109 MXD e-commerce fulfillment facilities across the United States and Canada. It also obtained 21 MXD-operated cross dock hubs, 16 dedicated operations and a network of 72 third-party agent facilities. (Read more: Ryder Boosts E-Commerce Portfolio With MXD Group Buyout)
These two acquisitions in a very short span of time indicate the company’s commitment to widen its worldwide operations for improving customer service.
In the past six months, shares of GATX and Expeditors have rallied more than 18% each while SkyWest stock has risen above 9%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Ryder (R) Expands Fleet Management With Metro Truck Buyout
Ryder System, Inc. (R - Free Report) recently completed the acquisition of Metro Truck & Tractor Leasing (Metro), a company with a fleet of approximate 900 units, providing truck leasing, rental and maintenance services to more than 150 customers.
Following the buyout, Ryder will now operate two of Metro’s Maryland facilities in Beltsville and Baltimore. Per the agreement, the company bought mobile maintenance vehicles to provide maintenance services to customers located in and around Baltimore and Washington, D.C. Ryder Mobile Maintenance is a fleet management solution technique wherein fully-equipped vehicles reach a customer’s location, providing tailor-made maintenance facilities to ensure fleet uptime.
The transaction allows Ryder to expand its footprint in the Baltimore Metro Area where demand for fleet management services is increasingly high.
The acquisition is anticipated to be marginally accretive to the company’s earnings in the current year. Also, banking on synergies and operational enhancements within the combined entity besides growth opportunities with Metro’s existing customers and prospects in the Maryland area, the company expects further improvement in its bottom line in the coming years.
Ryder System, Inc. Price
Ryder System, Inc. Price | Ryder System, Inc. Quote
We remind investors that in April, Ryder closed the acquisition of MXD Group for $120 million. Per the agreement, the company acquired 109 MXD e-commerce fulfillment facilities across the United States and Canada. It also obtained 21 MXD-operated cross dock hubs, 16 dedicated operations and a network of 72 third-party agent facilities. (Read more: Ryder Boosts E-Commerce Portfolio With MXD Group Buyout)
These two acquisitions in a very short span of time indicate the company’s commitment to widen its worldwide operations for improving customer service.
Zacks Rank & Key Picks
Ryder carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are GATX Corporation (GATX - Free Report) , SkyWest, Inc. (SKYW - Free Report) and Expeditors International of Washington, Inc. (EXPD - Free Report) . While GATX and SkyWest hold a Zacks Rank #2 (Buy), Expeditors sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past six months, shares of GATX and Expeditors have rallied more than 18% each while SkyWest stock has risen above 9%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>