A massive rebound in demand for freight has provided a huge boost for Ryder System, Inc. (NYSE:R). While challenges in supply chains have caused a host of issues for most companies, it has provided a growth opportunity for Ryder. Tight capacity and favorable freight conditions bode well for Ryder's growth over the next few quarters, which is why you should consider this undervalued stock.Ryder System, Inc. (R) provides supply chain and fleet management solutions in the United States. The company offers fleet leasing, fleet maintenance, truck rental, dedicated transportation, transportation management, freight brokerage, supply-chain optimization, warehouse and distribution, and small-business solutions.
The firm serves the automotive, consumer packaged goods, energy, food and beverage, healthcare, industrial manufacturing, metals, retail, technology and electronics, and transportation and logistics industries.
R has benefited from pent-up demand and improved economic, and freight conditions in the U.S. Favorable trends in warehousing, distribution, e-commerce fulfillment, and last-mile delivery of big and bulky have also aided the company.