Landstar System (NASDAQ:LSTR) Price Target Cut to $174.00 by Analysts at TD Cowen

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

Several other brokerages have also recently weighed in on LSTR. Morgan Stanley decreased 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. Stifel Nicolaus decreased their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Raymond James decreased their price target on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Wolfe Research cut Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. increased their price target on Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $174.67.

Landstar System Price Performance

Shares of LSTR opened at $177.07 on Wednesday. Landstar System has a 12-month low of $163.37 and a 12-month high of $201.40. The business has a 50-day simple moving average of $183.61 and a two-hundred day simple moving average of $182.44. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock has a market cap of $6.33 billion, a PE ratio of 27.24 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.05). Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the company earned $1.71 EPS. Landstar System’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts anticipate that Landstar System will post 5.84 earnings per share for the current fiscal year.

Landstar System Announces Dividend

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

Institutional Trading of Landstar System

Several hedge funds have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. raised its holdings in Landstar System by 2.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock worth $387,000 after buying an additional 57 shares during the last quarter. GAMMA Investing LLC raised its holdings in Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock worth $107,000 after buying an additional 70 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Landstar System by 13.8% during the first quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock worth $115,000 after buying an additional 72 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Landstar System by 108.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after buying an additional 74 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Landstar System by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company’s stock worth $549,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.