Landstar System, Inc. (NASDAQ:LSTR) Receives Average Rating of “Hold” from Brokerages

Landstar System, Inc. (NASDAQ:LSTR) has received an average rating of “Hold” from the seventeen research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $196.00.

LSTR has been the subject of several research reports. Barclays increased their target price on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. The Goldman Sachs Group boosted their price target on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a report on Thursday, July 16th. Stephens raised Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Truist Financial raised their price objective on shares of Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Finally, Susquehanna lifted their target price on shares of Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th.

Hedge Funds Weigh In On Landstar System

A number of hedge funds have recently modified their holdings of LSTR. BlackRock Inc. bought a new stake in shares of Landstar System in the 2nd quarter valued at $698,683,000. Bank of New York Mellon Corp acquired a new stake in shares of Landstar System during the second quarter worth $68,507,000. Bank of America Corp DE bought a new position in Landstar System during the second quarter worth $51,340,000. Norges Bank bought a new position in Landstar System during the fourth quarter worth $35,280,000. Finally, Corient Private Wealth LP acquired a new stake in Landstar System during the 2nd quarter worth about $44,949,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Performance

NASDAQ LSTR opened at $165.41 on Tuesday. The firm’s fifty day moving average price is $179.99 and its two-hundred day moving average price is $184.92. The stock has a market cap of $5.61 billion, a PE ratio of 42.85 and a beta of 0.90. Landstar System has a fifty-two week low of $120.01 and a fifty-two week high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis. On average, equities analysts expect that Landstar System will post 5.84 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th were given a $0.44 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 1.1%. Landstar System’s dividend payout ratio is currently 45.60%.

About Landstar System

Landstar System, Inc is a transportation services company that provides integrated logistics solutions primarily through an asset-light network of independent freight agents and third-party capacity providers. The company’s operations connect shippers with transportation services without relying primarily on a company-owned fleet of trucks.

Landstar arranges a broad range of freight transportation, including truckload, less-than-truckload, expedited, heavy-haul and specialized shipments.