Landstar System, Inc. (NASDAQ:LSTR) Given Consensus Rating of “Reduce” by Analysts

Landstar System, Inc. (NASDAQ:LSTR) has been given a consensus recommendation of “Reduce” by the fourteen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $150.42.

Several research firms have weighed in on LSTR. JPMorgan Chase & Co. cut their target price on Landstar System from $177.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Jefferies Financial Group cut their target price on Landstar System from $170.00 to $150.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Susquehanna cut their target price on Landstar System from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Truist Financial cut their target price on Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Finally, TD Cowen cut their target price on Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd.

Hedge Funds Weigh In On Landstar System

A number of institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in Landstar System during the fourth quarter valued at about $25,000. Alpine Bank Wealth Management bought a new position in Landstar System during the first quarter valued at about $25,000. HM Payson & Co. bought a new position in Landstar System during the fourth quarter valued at about $26,000. Colonial Trust Co SC increased its stake in Landstar System by 61.7% during the fourth 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 period. Finally, Geneos Wealth Management Inc. increased its stake in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $140.48 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. Landstar System has a 1 year low of $128.99 and a 1 year high of $196.86. The business has a fifty day simple moving average of $138.73 and a 200 day simple moving average of $158.22. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 25.45 and a beta of 0.92.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data 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 firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $1.32 earnings per share. Landstar System’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from Landstar System’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.14%. Landstar System’s payout ratio is presently 31.68%.

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.