Landstar System Inc. (NASDAQ:LSTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “LANDSTAR SYSTEM, INC., through its operating subsidiaries, provides a wide range of transportation services that operates the third largest truckload carrier in North America. “
A number of other research analysts also recently weighed in on the company. Stifel Nicolaus raised their price target on Landstar System from $67.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 20th. Oppenheimer Holdings Inc. downgraded Landstar System to an “outperform” rating in a research note on Tuesday, August 2nd. Citigroup Inc. downgraded Landstar System to a “market perform” rating in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Cowen and Company lifted their target price on Landstar System from $67.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, October 20th. Finally, Deutsche Bank AG started coverage on Landstar System in a research note on Wednesday, November 2nd. They set a “buy” rating and a $82.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $66.30.
Landstar System (NASDAQ:LSTR) opened at 82.15 on Friday. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 25.74 and a beta of 0.69. Landstar System has a 52 week low of $53.03 and a 52 week high of $83.00. The company has a 50 day moving average price of $73.39 and a 200-day moving average price of $69.37.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. The firm earned $788 million during the quarter, compared to the consensus estimate of $576.65 million. Landstar System had a return on equity of 27.78% and a net margin of 4.34%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. Equities analysts predict that Landstar System will post $3.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Tuesday, November 8th will be issued a $0.09 dividend. The ex-dividend date is Friday, November 4th. This represents a $0.36 annualized dividend and a yield of 0.44%. Landstar System’s dividend payout ratio is presently 11.29%.
In other Landstar System news, VP Larry S. Thomas sold 5,280 shares of Landstar System stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $80.57, for a total value of $425,409.60. Following the completion of the transaction, the vice president now directly owns 28,371 shares of the company’s stock, valued at approximately $2,285,851.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. BTIM Corp. boosted its position in shares of Landstar System by 46.6% in the second quarter. BTIM Corp. now owns 213,123 shares of the company’s stock valued at $14,633,000 after buying an additional 67,714 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Landstar System by 83.9% in the second quarter. Teacher Retirement System of Texas now owns 46,064 shares of the company’s stock valued at $3,163,000 after buying an additional 21,020 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Landstar System during the second quarter valued at $391,000. Dimensional Fund Advisors LP boosted its position in shares of Landstar System by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 883,672 shares of the company’s stock valued at $60,672,000 after buying an additional 7,980 shares in the last quarter. Finally, Cardinal Capital Management boosted its position in shares of Landstar System by 6.3% in the second quarter. Cardinal Capital Management now owns 10,506 shares of the company’s stock valued at $721,000 after buying an additional 625 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.
About Landstar System
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.