Landstar System (NASDAQ:LSTR) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Landstar System (NASDAQ:LSTR) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. TD Cowen cut their target price on Landstar System from $135.00 to $127.00 and set a “hold” rating for the company in a research note on Wednesday. Truist Financial dropped their target price on Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday. Evercore ISI dropped their target price on Landstar System from $132.00 to $125.00 and set an “in-line” rating for the company in a report on Tuesday, September 30th. Barclays dropped their target price on Landstar System from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, UBS Group dropped their price objective on Landstar System from $149.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $134.60.

Landstar System Price Performance

LSTR stock opened at $125.35 on Tuesday. Landstar System has a one year low of $119.32 and a one year high of $196.86. The firm has a 50 day simple moving average of $128.25 and a two-hundred day simple moving average of $134.23. The stock has a market cap of $4.34 billion, a PE ratio of 31.98 and a beta of 0.82. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, analysts predict 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 will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. Landstar System’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Investors Weigh In On Landstar System

Several institutional investors and hedge funds have recently modified their holdings of LSTR. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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 purchasing an additional 85 shares during the period. Janney Montgomery Scott LLC purchased a new position in Landstar System during the first quarter valued at $505,000. KBC Group NV lifted its position in Landstar System by 22.3% during the first quarter. KBC Group NV now owns 1,733 shares of the transportation company’s stock valued at $260,000 after buying an additional 316 shares during the period. First Horizon Advisors Inc. lifted its position in Landstar System by 35.3% during the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company’s stock valued at $48,000 after buying an additional 84 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Landstar System by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock valued at $12,203,000 after acquiring an additional 213 shares during the period. 97.95% of the stock is owned by hedge funds and other 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.