Landstar System (NASDAQ:LSTR) Price Target Cut to $180.00 by Analysts at Stephens

Landstar System (NASDAQ:LSTR) had its price target lowered by Stephens from $190.00 to $180.00 in a research note published on Wednesday, Benzinga reports. Stephens currently has an equal weight rating on the transportation company’s stock.

Several other equities analysts have also recently issued reports on LSTR. Susquehanna raised their price objective on Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wolfe Research cut Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price objective on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday. Morgan Stanley reduced their price objective on Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $174.67.

Landstar System Stock Performance

Landstar System stock opened at $177.07 on Wednesday. The stock has a market cap of $6.33 billion, a P/E ratio of 27.24 and a beta of 0.80. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $183.61 and a 200-day moving average of $182.44. Landstar System has a 52 week low of $163.37 and a 52 week high of $201.40.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.05). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 earnings per share. On average, analysts expect that Landstar System will post 5.84 EPS for the current fiscal year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s payout ratio is currently 22.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in Landstar System by 2.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock worth $387,000 after acquiring an additional 57 shares during the period. GAMMA Investing LLC increased its stake in Landstar System by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock worth $107,000 after purchasing an additional 70 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Landstar System by 13.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock worth $115,000 after purchasing an additional 72 shares in the last quarter. Massmutual Trust Co. FSB ADV increased 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 worth $26,000 after purchasing an additional 74 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Landstar System by 2.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company’s stock worth $549,000 after purchasing an additional 74 shares in the last quarter. 97.95% of the stock is 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.