Landstar System, Inc. (NASDAQ:LSTR) Receives Average Recommendation of “Hold” from Brokerages

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been assigned an average recommendation of “Hold” from the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $153.00.

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on Landstar System from $140.00 to $147.00 and gave the stock a “hold” rating in a research report on Wednesday, January 14th. Zacks Research upgraded Landstar System from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Barclays upped their target price on Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Wells Fargo & Company raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $145.00 to $170.00 in a research report on Tuesday, January 6th. Finally, Robert W. Baird set a $164.00 price target on shares of Landstar System in a research note on Friday, January 30th.

Landstar System Price Performance

LSTR opened at $162.08 on Monday. Landstar System has a twelve month low of $119.32 and a twelve month high of $164.35. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 48.97 and a beta of 0.85. The company has a current ratio of 1.75, a quick ratio of 2.01 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $147.88 and a 200 day simple moving average of $135.65.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Landstar System’s payout ratio is presently 48.34%.

Hedge Funds Weigh In On Landstar System

A number of hedge funds have recently bought and sold shares of LSTR. M&T Bank Corp raised its stake in Landstar System by 151,424.4% during the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after buying an additional 6,290,171 shares in the last quarter. Boston Partners increased its holdings in shares of Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after acquiring an additional 341,808 shares during the last quarter. Rivulet Capital LLC acquired a new stake in shares of Landstar System during the 3rd quarter valued at approximately $36,645,000. Norges Bank acquired a new stake in shares of Landstar System during the 2nd quarter valued at approximately $40,190,000. Finally, Fenimore Asset Management Inc boosted its holdings in Landstar System by 231.3% in the third quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company’s stock worth $41,809,000 after purchasing an additional 238,173 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.