Landstar System (NASDAQ:LSTR) Upgraded 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 published on Friday morning.

Several other analysts have also recently commented on LSTR. Stifel Nicolaus decreased their price target on shares of Landstar System from $130.00 to $127.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Landstar System in a report on Tuesday, November 25th. JPMorgan Chase & Co. lowered their target price on Landstar System from $138.00 to $134.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. 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 research report on Tuesday, September 30th. Finally, Truist Financial decreased their price target on Landstar System from $135.00 to $130.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $134.60.

Landstar System Stock Performance

Landstar System stock opened at $130.84 on Friday. The stock has a 50-day simple moving average of $126.89 and a 200 day simple moving average of $132.86. The company has a quick ratio of 2.00, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. Landstar System has a 12-month low of $119.32 and a 12-month high of $190.69. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 33.38 and a beta of 0.83.

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). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The firm’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. On average, research analysts anticipate that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

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

Institutional Trading of Landstar System

A number of hedge funds have recently modified their holdings of LSTR. Quarry LP acquired a new position in Landstar System during the third quarter valued at approximately $25,000. MAI Capital Management raised its holdings in Landstar System by 79.3% in the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after purchasing an additional 107 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Landstar System by 118.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after buying an additional 152 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Landstar System by 335.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after buying an additional 225 shares in the last quarter. 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.