Ryder price target lowered to $150 from $168 at Stephens

Stephens lowered the firm’s price target on Ryder (R) to $150 from $168 and keeps an Equal Weight rating on the shares. Ryder’s guidance for the year bracketed consensus estimates into the quarter, but Q2 guidance was about 5.5% below consensus into the quarter and commentary on the rental business was “worse than we previously modeled,” the analyst tells investors. The firm remains on the sidelines here as the truckload market remains challenged and the FMS segment’s pressures persist, the analyst added.