Landstar System (NASDAQ:LSTR) Price Target Lowered to $174.00 at TD Cowen

Landstar System (NASDAQ:LSTR) had its price objective cut by TD Cowen from $176.00 to $174.00 in a research report report published on Wednesday, Marketbeat.com reports. They currently have a hold rating on the transportation company’s stock.

Several other analysts also recently issued reports on LSTR. Benchmark restated a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. Evercore ISI reduced their price target on Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Susquehanna boosted their price target on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wolfe Research downgraded Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley reduced their price target on Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.67.

Landstar System Stock Down 1.9 %

LSTR stock opened at $177.07 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $6.33 billion, a PE ratio of 27.24 and a beta of 0.80. Landstar System has a 1-year low of $163.37 and a 1-year high of $201.40. The business’s 50 day simple moving average is $183.61 and its 200 day simple moving average is $182.44.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.05). 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 21.69% and a net margin of 4.49%. The firm’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 earnings per share. As a group, research analysts anticipate that Landstar System will post 5.84 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.81%. Landstar System’s dividend payout ratio is currently 22.15%.

Institutional Trading of Landstar System

Several institutional investors and hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. bought a new stake in shares of Landstar System during the 3rd quarter worth $207,000. Van ECK Associates Corp lifted its position in shares of Landstar System by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 25,156 shares of the transportation company’s stock worth $4,529,000 after buying an additional 7,188 shares during the last quarter. Confluence Wealth Services Inc. lifted its position in shares of Landstar System by 10.0% during the 3rd quarter. Confluence Wealth Services Inc. now owns 5,639 shares of the transportation company’s stock worth $1,065,000 after buying an additional 513 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Landstar System by 111.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,751 shares of the transportation company’s stock worth $1,653,000 after buying an additional 4,606 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Landstar System by 320.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,459 shares of the transportation company’s stock worth $276,000 after buying an additional 1,112 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

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.