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 report sent to investors on Monday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on LSTR. Wells Fargo & Company began coverage on Landstar System in a report on Friday, December 5th. They issued an “equal weight” rating and a $145.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. UBS Group lowered their price target on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Evercore ISI cut their price objective on shares of Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Finally, Truist Financial decreased their price objective on shares of Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $135.50.

Landstar System Stock Up 3.4%

Shares of Landstar System stock opened at $148.75 on Monday. Landstar System has a twelve month low of $119.32 and a twelve month high of $190.69. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 37.95 and a beta of 0.85. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average price of $129.93 and a 200 day moving average price of $132.88.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts forecast that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be issued a dividend of $2.00 per share. This represents a yield of 142.0%. The ex-dividend date of this dividend is Tuesday, January 6th. Landstar System’s dividend payout ratio (DPR) is currently 40.82%.

Institutional Investors Weigh In On Landstar System

A number of institutional investors have recently modified their holdings of the stock. Boston Partners grew its stake in Landstar System by 24.1% in the third quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after purchasing an additional 341,808 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Landstar System by 8.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock worth $613,372,000 after buying an additional 319,101 shares during the last quarter. Rivulet Capital LLC acquired a new position in shares of Landstar System in the 3rd quarter worth approximately $36,645,000. Norges Bank bought a new stake in shares of Landstar System in the 2nd quarter valued at approximately $40,190,000. Finally, Fenimore Asset Management Inc increased its holdings in shares of Landstar System by 231.3% in the 3rd quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company’s stock valued at $41,809,000 after acquiring an additional 238,173 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.