Landstar System (NASDAQ:LSTR) Stock Price Down 4.1% After Earnings Miss

Shares of Landstar System, Inc. (NASDAQ:LSTRGet Free Report) traded down 4.1% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $164.99 and last traded at $165.88. 60,739 shares were traded during mid-day trading, a decline of 79% from the average session volume of 296,100 shares. The stock had previously closed at $172.92.

The transportation company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%.

Landstar System Increases Dividend

The company also recently declared a special dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were issued a dividend of $2.00 per share. This is a positive change from Landstar System’s previous special dividend of $1.50. The ex-dividend date was Tuesday, January 7th. Landstar System’s payout ratio is currently 24.70%.

Analyst Ratings Changes

Several analysts recently weighed in on LSTR shares. UBS Group increased their target price on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen decreased their price target on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Susquehanna reduced their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Stephens dropped their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $172.27.

View Our Latest Stock Analysis on LSTR

Insider Transactions at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the sale, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Landstar System

Hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new stake in Landstar System during the fourth quarter worth about $25,000. Trust Co. of Vermont acquired a new position in Landstar System during the fourth quarter worth $34,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after acquiring an additional 358 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Landstar System during the 2nd quarter worth approximately $106,000. Finally, GAMMA Investing LLC lifted its holdings in Landstar System by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 70 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Down 4.4 %

The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 28.33 and a beta of 0.83. The firm’s 50 day simple moving average is $177.67 and its two-hundred day simple moving average is $182.26.

Landstar System Company Profile

(Get Free Report)

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.

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