Landstar System (NASDAQ:LSTR) Upgraded at Zacks Research

Zacks Research upgraded shares of Landstar System (NASDAQ:LSTR) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. UBS Group dropped their target price on shares of Landstar System from $154.00 to $149.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. Stifel Nicolaus lowered their target price on Landstar System from $140.00 to $131.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. TD Cowen dropped their price target on shares of Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a research report on Wednesday, July 30th. Baird R W upgraded Landstar System to a “strong-buy” rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen cut Landstar System from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $145.17.

Landstar System Stock Down 0.9%

LSTR stock opened at $129.74 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $134.64 and a two-hundred day moving average price of $139.86. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 27.20 and a beta of 0.84. Landstar System has a twelve month low of $123.43 and a twelve month high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. Landstar System’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. Analysts anticipate that Landstar System will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were paid a $0.40 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System’s dividend payout ratio (DPR) is presently 33.54%.

Hedge Funds Weigh In On Landstar System

Several hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Bank Wealth Management acquired a new stake in Landstar System in the first quarter valued at approximately $25,000. MAI Capital Management lifted its holdings in Landstar System by 79.3% in the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after buying an additional 107 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after buying an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after buying an additional 152 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in Landstar System by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

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.