Zacks Investment Research lowered shares of Landstar System Inc. (NASDAQ:LSTR) from a buy rating to a hold rating in a report issued 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. “
Other equities research analysts have also recently issued reports about the stock. Citigroup Inc. cut shares of Landstar System to a market perform rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Oppenheimer Holdings Inc. cut Landstar System to an outperform rating in a research note on Tuesday, August 2nd. Cowen and Company lifted their price target 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. Deutsche Bank AG initiated coverage on Landstar System in a research note on Wednesday, November 2nd. They issued a buy rating and a $82.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on Landstar System from $67.00 to $70.00 and gave the stock a hold rating in a research note on Thursday, October 20th. Two 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 stock currently has a consensus rating of Hold and a consensus target price of $66.30.
Landstar System (NASDAQ:LSTR) opened at 82.15 on Friday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 25.74 and a beta of 0.69. The company has a 50-day moving average of $73.39 and a 200 day moving average of $69.37. Landstar System has a 12-month low of $53.03 and a 12-month high of $83.00.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Landstar System had a net margin of 4.34% and a return on equity of 27.78%. The firm had revenue of $788 million for the quarter, compared to analysts’ expectations of $576.65 million. During the same period in the previous year, the business earned $0.90 earnings per share. Landstar System’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts anticipate that Landstar System will post $3.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Tuesday, November 8th will be paid a $0.09 dividend. The ex-dividend date is Friday, November 4th. This represents a $0.36 annualized dividend and a dividend yield of 0.44%. Landstar System’s payout ratio is 11.29%.
In related news, VP Larry S. Thomas sold 5,280 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 28,371 shares of the company’s stock, valued at approximately $2,285,851.47. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of LSTR. Price T Rowe Associates Inc. MD raised its stake in Landstar System by 4.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,802,206 shares of the company’s stock valued at $190,774,000 after buying an additional 110,770 shares during the period. LPL Financial LLC raised its stake in Landstar System by 5.1% in the third quarter. LPL Financial LLC now owns 12,101 shares of the company’s stock valued at $815,000 after buying an additional 588 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Landstar System by 44,682.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 44,782 shares of the company’s stock valued at $3,047,000 after buying an additional 44,682 shares during the period. Credit Suisse AG raised its stake in Landstar System by 12.8% in the third quarter. Credit Suisse AG now owns 58,320 shares of the company’s stock valued at $3,970,000 after buying an additional 6,611 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in Landstar System by 24.8% in the third quarter. Ameritas Investment Partners Inc. now owns 31,314 shares of the company’s stock valued at $2,131,000 after buying an additional 6,222 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.
Landstar System Company Profile
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.