Landstar System (NASDAQ:LSTR) Price Target Cut to $160.00

Landstar System (NASDAQ:LSTR) had its target price lowered by Susquehanna from $165.00 to $160.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

LSTR has been the topic of several other reports. Wolfe Research upgraded shares of Landstar System from a peer perform rating to an outperform rating and set a $205.00 price target on the stock in a research note on Wednesday, January 10th. Stifel Nicolaus lowered their target price on Landstar System from $171.00 to $166.00 and set a hold rating on the stock in a research report on Friday, February 2nd. Wells Fargo & Company raised their price target on Landstar System from $165.00 to $180.00 and gave the company an equal weight rating in a research note on Friday, February 2nd. Finally, UBS Group lifted their price objective on shares of Landstar System from $175.00 to $200.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Nine investment analysts have rated the stock with a hold rating and two have given a buy 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 $184.09.

Landstar System Stock Down 0.1 %

LSTR stock opened at $177.26 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.00. The stock has a market capitalization of $6.34 billion, a P/E ratio of 27.27, a P/E/G ratio of 4.69 and a beta of 0.83. Landstar System has a fifty-two week low of $161.13 and a fifty-two week high of $208.62. The business has a 50-day moving average of $184.33 and a 200-day moving average of $183.53.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. On average, sell-side analysts anticipate that Landstar System will post 6.69 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Wednesday, May 8th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, May 7th. Landstar System’s dividend payout ratio (DPR) is presently 20.31%.

Insider Buying and Selling

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the sale, the vice president now owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of Landstar System

A number of hedge funds have recently added to or reduced their stakes in LSTR. Simplicity Wealth LLC acquired a new position in Landstar System in the 1st quarter worth about $846,000. Louisiana State Employees Retirement System increased its position in Landstar System by 2.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the transportation company’s stock valued at $1,985,000 after acquiring an additional 200 shares during the period. Wesbanco Bank Inc. acquired a new position in Landstar System in the 1st quarter valued at approximately $509,000. Confluence Wealth Services Inc. raised its stake in shares of Landstar System by 8.9% during the first quarter. Confluence Wealth Services Inc. now owns 4,575 shares of the transportation company’s stock valued at $882,000 after acquiring an additional 374 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Landstar System by 2.3% during the first quarter. Raymond James & Associates now owns 145,164 shares of the transportation company’s stock worth $27,982,000 after purchasing an additional 3,236 shares during the period. Institutional investors and hedge funds 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.