Evercore ISI Cuts Landstar System (NASDAQ:LSTR) Price Target to $136.00

Landstar System (NASDAQ:LSTR) had its price target decreased by Evercore ISI from $137.00 to $136.00 in a report published on Wednesday,Benzinga reports. Evercore ISI currently has an in-line rating on the transportation company’s stock.

Several other brokerages have also recently weighed in on LSTR. Stifel Nicolaus dropped their price target on shares of Landstar System from $147.00 to $140.00 and set a “hold” rating on the stock in a research note on Wednesday. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. TD Cowen lowered their target price on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, April 3rd. Truist Financial lowered their target price on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Finally, Susquehanna lowered their target price on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. Based on data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $153.08.

Landstar System Price Performance

Shares of LSTR opened at $145.09 on Wednesday. Landstar System has a twelve month low of $128.99 and a twelve month high of $196.86. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $141.22 and a 200 day moving average of $162.20. The company has a market capitalization of $5.07 billion, a P/E ratio of 26.28 and a beta of 0.92.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.07). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts anticipate that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be issued a $0.40 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, June 5th. Landstar System’s payout ratio is currently 31.68%.

Institutional Trading of Landstar System

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Roberts Wealth Advisors LLC increased its holdings in Landstar System by 1.3% in the 4th quarter. Roberts Wealth Advisors LLC now owns 4,616 shares of the transportation company’s stock valued at $818,000 after acquiring an additional 60 shares during the last quarter. Colonial Trust Co SC increased its holdings in Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 71 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Landstar System by 35.3% in the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 84 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Landstar System by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company’s stock valued at $465,000 after acquiring an additional 85 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in Landstar System by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company’s stock valued at $1,272,000 after acquiring an additional 100 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

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.