JPMorgan Chase & Co. Lowers Landstar System (NASDAQ:LSTR) Price Target to $177.00

Landstar System (NASDAQ:LSTR) had its price target decreased by JPMorgan Chase & Co. from $184.00 to $177.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

A number of other brokerages have also recently commented on LSTR. The Goldman Sachs Group lowered their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Stifel Nicolaus raised their price objective on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. TD Cowen cut their price objective 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. Susquehanna lowered their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, UBS Group boosted their price target on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat, Landstar System presently has an average rating of “Hold” and a consensus price target of $171.27.

Landstar System Stock Performance

Shares of LSTR stock opened at $166.94 on Thursday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. Landstar System has a 12-month low of $163.18 and a 12-month high of $197.16. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 30.24 and a beta of 0.83. The stock has a 50 day simple moving average of $177.67 and a 200-day simple moving average of $182.26.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.37%. On average, equities analysts forecast that Landstar System will post 6.7 EPS for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 0.86%. Landstar System’s payout ratio is currently 26.09%.

Insider Buying and Selling

In related news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Landstar System

A number of large investors have recently modified their holdings of LSTR. State Street Corp increased its position in Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after purchasing an additional 15,328 shares in the last quarter. Geode Capital Management LLC grew its stake in Landstar System by 5.1% during the third quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock worth $153,685,000 after buying an additional 39,223 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Landstar System by 10.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock worth $81,201,000 after acquiring an additional 41,758 shares in the last quarter. Copeland Capital Management LLC raised its stake in shares of Landstar System by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock valued at $73,308,000 after acquiring an additional 3,630 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Landstar System by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock valued at $68,494,000 after acquiring an additional 948 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

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.