Landstar System (NASDAQ:LSTR) Stock Rating Lowered by Raymond James

Raymond James downgraded shares of Landstar System (NASDAQ:LSTR) from an outperform rating to a market perform rating in a research note published on Friday, MarketBeat reports.

Several other research firms have also issued reports on LSTR. Stephens cut their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. UBS Group increased their target price on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. TD Cowen dropped their price objective on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Finally, Evercore ISI decreased their target price on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and an average price target of $174.25.

Landstar System Price Performance

Shares of LSTR traded down $4.59 during midday trading on Friday, reaching $182.82. The stock had a trading volume of 171,432 shares, compared to its average volume of 256,973. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 31.36 and a beta of 0.81. The company’s 50-day moving average is $183.98 and its 200 day moving average is $183.38. Landstar System has a 12-month low of $165.39 and a 12-month high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 earnings per share. On average, equities analysts predict that Landstar System will post 5.57 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio is currently 24.70%.

Insider Buying and Selling

In related news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the sale, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Trading of Landstar System

A number of hedge funds have recently modified their holdings of LSTR. Envestnet Portfolio Solutions Inc. increased its stake in shares of Landstar System by 2.9% in the 1st 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 in the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Landstar System by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company’s stock valued at $883,000 after purchasing an additional 68 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 70 shares during the last quarter. Equitable Trust Co. boosted its position in shares of Landstar System by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company’s stock worth $614,000 after purchasing an additional 71 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 72 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

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.