Landstar System (NASDAQ:LSTR) Given New $135.00 Price Target at Barclays

Landstar System (NASDAQ:LSTR) had its price target reduced by Barclays from $145.00 to $135.00 in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have an equal weight rating on the transportation company’s stock.

Other research analysts have also issued research reports about the company. Baird R W upgraded Landstar System to a “strong-buy” rating in a report on Tuesday, July 1st. Susquehanna set a $123.00 price target on Landstar System and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Evercore ISI reduced their price target on Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a report on Tuesday. Finally, Robert W. Baird started coverage on shares of Landstar System in a report on Tuesday, July 1st. They issued an “outperform” rating and a $166.00 price objective on the stock. 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $143.75.

Landstar System Trading Down 0.4%

Shares of LSTR opened at $121.23 on Thursday. Landstar System has a 52-week low of $119.32 and a 52-week high of $196.86. 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 firm’s fifty day moving average is $129.58 and its two-hundred day moving average is $136.47. The stock has a market cap of $4.20 billion, a PE ratio of 25.42 and a beta of 0.82.

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

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System’s payout ratio is currently 33.54%.

Hedge Funds Weigh In On Landstar System

Several institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC grew its position in Landstar System by 23.5% in the 2nd quarter. Corient Private Wealth LLC now owns 360,438 shares of the transportation company’s stock valued at $50,108,000 after acquiring an additional 68,659 shares in the last quarter. Osaic Holdings Inc. grew its position in Landstar System by 54.7% in the 2nd quarter. Osaic Holdings Inc. now owns 662 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 234 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Landstar System in the 2nd quarter valued at about $1,671,000. State of Wyoming acquired a new position in Landstar System in the 2nd quarter valued at about $243,000. Finally, Hudson Bay Capital Management LP grew its position in shares of Landstar System by 2.8% during the second quarter. Hudson Bay Capital Management LP now owns 12,154 shares of the transportation company’s stock worth $1,690,000 after buying an additional 331 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

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.