Landstar System (NASDAQ:LSTR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Landstar System (NASDAQ:LSTR) from a sell rating to a hold rating in a research note released on Saturday morning.

LSTR has been the subject of several other reports. Stifel Nicolaus decreased their price objective on shares of Landstar System from $130.00 to $127.00 and set a “hold” rating for the company in a research report on Wednesday. Susquehanna cut their price target on shares of Landstar System from $121.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Landstar System from $138.00 to $134.00 and set a “neutral” rating for the company in a report on Wednesday. UBS Group dropped their price objective on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Evercore ISI cut their target price on Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $134.60.

Landstar System Stock Up 2.5%

Landstar System stock opened at $128.43 on Friday. Landstar System has a 1-year low of $119.32 and a 1-year high of $196.86. The business has a fifty day moving average price of $128.10 and a 200-day moving average price of $134.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.00. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 32.76 and a beta of 0.82.

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). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 earnings per share. Equities research analysts forecast that Landstar System will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 18th. Landstar System’s dividend payout ratio is 40.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in Landstar System by 0.3% during the first quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock worth $12,203,000 after acquiring an additional 213 shares during the period. Brown Advisory Inc. lifted its holdings in Landstar System by 31.7% in the first quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company’s stock valued at $1,225,000 after acquiring an additional 1,961 shares during the period. Envestnet Asset Management Inc. boosted its position in Landstar System by 1.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company’s stock worth $29,707,000 after purchasing an additional 2,318 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Landstar System by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company’s stock worth $465,000 after purchasing an additional 85 shares during the period. Finally, KBC Group NV grew its stake in shares of Landstar System by 22.3% during the 1st quarter. KBC Group NV now owns 1,733 shares of the transportation company’s stock worth $260,000 after purchasing an additional 316 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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.