Landstar System Inc. (NASDAQ:LSTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research 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 research reports about the company. Citigroup Inc. cut Landstar System to a “market perform” rating in a research note 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 boosted their target price on Landstar System from $67.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, October 20th. Deutsche Bank AG assumed coverage on Landstar System in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $82.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on Landstar System from $67.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $66.30.
Shares of Landstar System (NASDAQ:LSTR) opened at 82.15 on Friday. The firm has a market cap of $3.43 billion, a P/E ratio of 25.74 and a beta of 0.69. The stock has a 50 day moving average of $73.39 and a 200 day moving average of $69.37. Landstar System has a 52 week low of $53.03 and a 52 week high of $83.00.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, October 19th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $788 million for the quarter, compared to analysts’ expectations of $576.65 million. Landstar System had a return on equity of 27.78% and a net margin of 4.34%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. Equities analysts forecast that Landstar System will post $3.17 earnings per share for the current year.
The firm 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 4th. Landstar System’s dividend payout ratio (DPR) is presently 11.29%.
In related news, VP Larry S. Thomas sold 5,280 shares of the 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 sale, the vice president now owns 28,371 shares in the company, valued at approximately $2,285,851.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Landstar System by 11.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554 shares of the company’s stock worth $106,000 after buying an additional 158 shares during the period. Victory Capital Management Inc. boosted its stake in Landstar System by 77.6% in the second quarter. Victory Capital Management Inc. now owns 1,705 shares of the company’s stock worth $117,000 after buying an additional 745 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Landstar System during the third quarter worth $123,000. PNC Financial Services Group Inc. boosted its stake in Landstar System by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,806 shares of the company’s stock worth $124,000 after buying an additional 31 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Landstar System by 755.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,925 shares of the company’s stock worth $132,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds 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.