Landstar System, Inc. (NASDAQ:LSTR) Given Consensus Recommendation of “Hold” by Brokerages

Landstar System, Inc. (NASDAQ:LSTR) has earned an average rating of “Hold” from the fourteen analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $134.60.

A number of research analysts have recently commented on LSTR shares. UBS Group lowered their price objective on Landstar System from $149.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Truist Financial decreased their target price on Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. Evercore ISI lowered 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, September 30th. Wall Street Zen lowered shares of Landstar System from a “hold” rating to a “sell” rating in a research report on Sunday, November 9th. Finally, Zacks Research cut shares of Landstar System from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 28th.

Institutional Investors Weigh In On Landstar System

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Landstar System by 16.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,609 shares of the transportation company’s stock valued at $527,000 after acquiring an additional 510 shares during the period. Harbor Capital Advisors Inc. raised its stake in Landstar System by 41.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 45,346 shares of the transportation company’s stock valued at $6,304,000 after purchasing an additional 13,229 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in Landstar System in the 2nd quarter valued at $357,000. Public Employees Retirement System of Ohio boosted its holdings in Landstar System by 8.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,232 shares of the transportation company’s stock valued at $5,176,000 after purchasing an additional 2,758 shares during the period. Finally, GAMMA Investing LLC grew its position in Landstar System by 109.6% in the 2nd quarter. GAMMA Investing LLC now owns 939 shares of the transportation company’s stock worth $131,000 after purchasing an additional 491 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Up 2.8%

Landstar System stock opened at $130.76 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 2.00 and a debt-to-equity ratio of 0.05. Landstar System has a 1-year low of $119.32 and a 1-year high of $190.69. The firm’s fifty day simple moving average is $126.58 and its 200-day simple moving average is $133.10. The company has a market capitalization of $4.49 billion, a P/E ratio of 33.36 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 28th. The transportation company reported $1.22 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts forecast that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 18th will be given a dividend of $0.40 per share. 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 1.2%. Landstar System’s payout ratio is currently 40.82%.

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.