Landstar System (NASDAQ:LSTR) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Landstar System (NASDAQ:LSTR) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other brokerages have also recently weighed in on LSTR. Stifel Nicolaus dropped their price objective on Landstar System from $140.00 to $131.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. Baird R W raised shares of Landstar System to a “strong-buy” rating in a research report on Tuesday, July 1st. TD Cowen reduced their price objective on shares of Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a research report on Wednesday, July 30th. UBS Group cut their target price on Landstar System from $154.00 to $149.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Finally, Robert W. Baird assumed coverage on Landstar System in a report on Tuesday, July 1st. They issued an “outperform” rating and a $166.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $145.17.

Landstar System Price Performance

LSTR stock opened at $129.04 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. The business has a 50-day simple moving average of $133.75 and a two-hundred day simple moving average of $139.05. The company has a market capitalization of $4.47 billion, a P/E ratio of 27.05 and a beta of 0.84. Landstar System has a 52-week low of $123.43 and a 52-week high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts expect that Landstar System will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System’s dividend payout ratio (DPR) is presently 33.54%.

Hedge Funds Weigh In On Landstar System

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in shares of Landstar System by 35.3% in the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company’s stock valued at $48,000 after buying an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Landstar System by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company’s stock worth $465,000 after acquiring an additional 85 shares during the period. State of Michigan Retirement System increased its holdings in Landstar System by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company’s stock worth $1,272,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Landstar System by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the transportation company’s stock worth $1,487,000 after acquiring an additional 100 shares during the last quarter. Finally, Securian Asset Management Inc. raised its stake in Landstar System by 3.8% in the 1st quarter. Securian Asset Management Inc. now owns 2,744 shares of the transportation company’s stock valued at $412,000 after acquiring an additional 100 shares during the period. 97.95% of the stock is owned by institutional investors.

About Landstar System

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.