Susquehanna Cuts Landstar System (NASDAQ:LSTR) Price Target to $160.00

Landstar System (NASDAQ:LSTR) had its price objective decreased by Susquehanna from $165.00 to $160.00 in a report issued on Friday morning, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

Other equities analysts have also recently issued reports about the company. Raymond James reduced their price objective on Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Wolfe Research lowered shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. TD Cowen dropped their price objective on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research note on Wednesday. Evercore ISI decreased their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday. Finally, Stephens lowered their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $174.25.

Landstar System Stock Up 0.8 %

NASDAQ LSTR traded up $1.43 during trading hours on Friday, reaching $177.20. 196,742 shares of the company traded hands, compared to its average volume of 259,902. The stock has a market capitalization of $6.28 billion, a PE ratio of 30.39 and a beta of 0.80. The company has a current ratio of 2.21, a quick ratio of 2.17 and a debt-to-equity ratio of 0.04. Landstar System has a 12 month low of $165.39 and a 12 month high of $201.40. The company has a 50 day moving average of $182.96 and a two-hundred day moving average of $182.36.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business posted $1.71 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities analysts expect that Landstar System will post 5.77 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s payout ratio is currently 24.70%.

Hedge Funds Weigh In On Landstar System

Several hedge funds have recently made changes to their positions in the business. Equitable Trust Co. lifted its position in shares of Landstar System by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company’s stock valued at $614,000 after acquiring an additional 71 shares during the last quarter. Olympiad Research LP purchased a new stake in shares of Landstar System during the third quarter valued at $205,000. QRG Capital Management Inc. purchased a new stake in shares of Landstar System during the third quarter valued at $207,000. Van ECK Associates Corp increased its stake in Landstar System by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 25,156 shares of the transportation company’s stock worth $4,529,000 after purchasing an additional 7,188 shares in the last quarter. Finally, Confluence Wealth Services Inc. increased its stake in Landstar System by 10.0% in the 3rd quarter. Confluence Wealth Services Inc. now owns 5,639 shares of the transportation company’s stock worth $1,065,000 after purchasing an additional 513 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.