Landstar System, Inc. (NASDAQ:LSTR) Receives $174.25 Average PT from Brokerages

Landstar System, Inc. (NASDAQ:LSTR) has earned an average rating of “Reduce” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $174.25.

A number of analysts recently issued reports on LSTR shares. UBS Group increased their price target on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Susquehanna decreased their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, TD Cowen dropped their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th.

Landstar System Price Performance

NASDAQ LSTR opened at $185.27 on Wednesday. The company has a market cap of $6.55 billion, a PE ratio of 31.78 and a beta of 0.82. Landstar System has a 52-week low of $165.39 and a 52-week high of $201.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The firm’s 50 day moving average price is $184.44 and its 200-day moving average price is $183.87.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.71 earnings per share. Sell-side analysts forecast that Landstar System will post 5.57 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $2.00 per share. This is an increase from Landstar System’s previous special dividend of $1.50. The ex-dividend date of this dividend is Tuesday, January 7th. Landstar System’s dividend payout ratio is presently 24.70%.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the sale, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Landstar System

A number of hedge funds have recently bought and sold shares of LSTR. Franklin Resources Inc. increased its holdings in shares of Landstar System by 28.1% during the third quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company’s stock valued at $11,000,000 after purchasing an additional 12,756 shares during the period. Tidal Investments LLC grew its holdings in shares of Landstar System by 9.3% in the 3rd quarter. Tidal Investments LLC now owns 10,053 shares of the transportation company’s stock worth $1,899,000 after acquiring an additional 857 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Landstar System during the third quarter worth $4,036,000. Sanctuary Advisors LLC lifted its holdings in shares of Landstar System by 24.7% during the third quarter. Sanctuary Advisors LLC now owns 6,655 shares of the transportation company’s stock valued at $1,203,000 after purchasing an additional 1,319 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of Landstar System by 27.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 158 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 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.