The Goldman Sachs Group Trims Landstar System (NASDAQ:LSTR) Target Price to $158.00

Landstar System (NASDAQ:LSTR) had its price objective lowered by The Goldman Sachs Group from $165.00 to $158.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has a sell rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the stock. Raymond James reduced their price target on shares of Landstar System from $205.00 to $195.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. Benchmark reiterated a hold rating on shares of Landstar System in a research report on Wednesday, July 31st. Morgan Stanley cut their target price on shares of Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Landstar System from $182.00 to $188.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus cut their target price on shares of Landstar System from $164.00 to $160.00 and set a hold rating for the company in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $177.25.

Landstar System Stock Up 3.0 %

Shares of NASDAQ:LSTR opened at $187.78 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.17. The company has a market cap of $6.72 billion, a PE ratio of 28.89 and a beta of 0.80. Landstar System has a 52 week low of $161.13 and a 52 week high of $201.40. The firm has a 50 day simple moving average of $184.24 and a 200 day simple moving average of $182.66.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. As a group, research analysts expect that Landstar System will post 5.85 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio (DPR) is currently 22.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mather Group LLC. acquired a new position in Landstar System in the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV grew its stake in Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after buying an additional 74 shares during the last quarter. Quest Partners LLC acquired a new position in Landstar System in the 2nd quarter valued at $73,000. Fidelis Capital Partners LLC acquired a new position in Landstar System in the 1st quarter valued at $86,000. Finally, GAMMA Investing LLC grew its stake in Landstar System by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after buying an additional 183 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.