Landstar System (NASDAQ:LSTR) Price Target Cut to $181.00 by Analysts at JPMorgan Chase & Co.

Landstar System (NASDAQ:LSTR) had its price target reduced by JPMorgan Chase & Co. from $204.00 to $181.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on LSTR. Wall Street Zen cut Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. Susquehanna upped their price target on shares of Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Robert W. Baird dropped their price objective on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Finally, Barclays upped their target price on shares of Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Landstar System currently has an average rating of “Hold” and a consensus price target of $194.36.

Landstar System Trading Down 1.3%

Shares of Landstar System stock opened at $171.22 on Monday. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 44.36 and a beta of 0.90. The business has a 50-day moving average price of $176.55 and a 200-day moving average price of $185.72. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System has a twelve month low of $121.11 and a twelve month high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Landstar System had a return on equity of 20.84% and a net margin of 2.64%.Landstar System’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Equities research analysts anticipate that Landstar System will post 5.84 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th were paid a dividend of $0.44 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, August 18th. Landstar System’s payout ratio is presently 45.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC purchased a new stake in shares of Landstar System in the 2nd quarter worth $21,043,000. Manatuck Hill Partners LLC bought a new position in shares of Landstar System during the 4th quarter worth $862,000. Bank of America Corp DE increased its stake in shares of Landstar System by 13.4% during the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock valued at $40,095,000 after buying an additional 29,595 shares during the period. Norges Bank purchased a new position in shares of Landstar System during the fourth quarter valued at $35,280,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Landstar System in the second quarter valued at about $6,064,000. 97.95% of the stock is currently owned by institutional investors.

About Landstar System

Landstar System, Inc is a transportation and logistics company that provides asset-light freight transportation services through a network of independent agents, third-party capacity providers and company employees. The company coordinates the movement of freight for customers across a range of industries, matching shipments with available transportation resources.

Landstar’s services include truckload transportation, expedited and time-critical delivery, less-than-truckload shipping, heavy-haul and specialized transport, and freight brokerage.