Landstar System Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $91.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.21% from the company’s current price.
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. “
Several other equities analysts have also commented on LSTR. Deutsche Bank AG assumed coverage on Landstar System in a report on Wednesday, November 2nd. They set a “buy” rating and a $82.00 target price for the company. Cowen and Company upped their target price on Landstar System from $67.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, October 20th. Citigroup Inc. lowered Landstar System to a “market perform” rating in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Oppenheimer Holdings Inc. lowered Landstar System to an “outperform” rating in a report on Tuesday, August 2nd. Finally, Stifel Nicolaus upped their target price on Landstar System from $67.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 20th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.30.
Landstar System (NASDAQ:LSTR) opened at 81.95 on Friday. The firm has a market capitalization of $3.42 billion, a PE ratio of 25.67 and a beta of 0.69. The company’s 50-day moving average price is $73.81 and its 200 day moving average price is $69.52. Landstar System has a one year low of $53.03 and a one year high of $83.00.
Landstar System (NASDAQ:LSTR) last posted 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 company earned $788 million during the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.90 earnings per share. On average, analysts forecast 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. Stockholders of record on Tuesday, November 8th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, November 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.44%. Landstar System’s dividend payout ratio (DPR) is presently 11.29%.
In other 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 transaction of $425,409.60. Following the completion of the sale, the vice president now owns 28,371 shares in the company, 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. Insiders own 1.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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. increased its stake in shares of 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. bought a new stake in shares of Landstar System during the third quarter worth approximately $123,000. PNC Financial Services Group Inc. increased its stake in shares of 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. increased its stake in shares of 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 own 99.61% of the company’s stock.
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.