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RYDER ALERT: Bragar Eagel & Squire, P.C. is Investigating Ryder System Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

12/03/2021 | 09:03pm EST

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Ryder System, Inc. (NYSE: R) on behalf of long-term stockholders following a class action complaint that was filed against Ryder on May 20, 2020. Our investigation concerns whether the board of directors of Ryder have breached their fiduciary duties to the company.

The complaint alleges that throughout the Class Period defendants misrepresented Ryder’s true financial condition by overstating the residual value of its trucking fleet, which allowed the Company to record smaller depreciation expense on those assets each year, and artificially inflated Ryder’s earnings. Defendants represented to investors that its financial results “benefited from lower depreciation associated with increased residual values” and that the Company had been “conservative” in establishing the residual values of its vehicles. While Ryder kept increasing the expected residual value of its trucking fleet, the actual amount Ryder was receiving from sales of its used trucks had started to decrease beginning in 2015. Nevertheless, when asked about the residual values of the Company’s trucks during Ryder’s July 27, 2016 earnings call, Chairman and Chief Executive Officer, Defendant Robert Sanchez stated that “I wouldn’t envision an increase or decrease in residual values out over the next four, five years.” These and similar statements during the Class Period were false and misleading because Defendants knew or recklessly disregarded that the residual values that Ryder assigned to its trucking fleet were grossly overstated, which had the effect of allowing the Company to record smaller depreciation expenses and artificially inflated Ryder’s earnings.

If you are a long-term stockholder of Ryder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra B. Raymond by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

ę Business Wire 2021
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Analyst Recommendations on RYDER SYSTEM, INC.
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Financials (USD)
Sales 2021 9 544 M - -
Net income 2021 468 M - -
Net Debt 2021 5 387 M - -
P/E ratio 2021 8,07x
Yield 2021 3,24%
Capitalization 3 794 M 3 794 M -
EV / Sales 2021 0,96x
EV / Sales 2022 0,92x
Nbr of Employees 39 000
Free-Float -
Duration : Period :
Ryder System, Inc. Technical Analysis Chart | R | US7835491082 | MarketScreener
Technical analysis trends RYDER SYSTEM, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 9
Last Close Price 70,66 $
Average target price 93,43 $
Spread / Average Target 32,2%
EPS Revisions
Managers and Directors
Robert E. Sanchez Chairman & Chief Executive Officer
John J. Diez Chief Financial Officer & Executive Vice President
Rajeev Ravindran Chief Information Officer & Senior Vice President
Norman Brouillette VP, General Manager-Technology & Healthcare
Kendra Phillips Chief Technology Officer
Sector and Competitors