Landstar System, Inc. (NASDAQ:LSTR) Stock Has Average Target Price of $191.14

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been assigned a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $191.14.

A number of brokerages have weighed in on LSTR. UBS Group reaffirmed a “neutral” rating and issued a $195.00 price target on shares of Landstar System in a research note on Wednesday, July 29th. Wall Street Zen downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Robert W. Baird dropped their price objective on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. TD Cowen cut their price objective on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating on the stock in a research report on Tuesday, July 28th. Finally, Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 target price for the company in a research note on Tuesday, August 4th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LSTR. Walleye Capital LLC acquired a new stake in shares of Landstar System in the 2nd quarter valued at approximately $21,043,000. Bank of America Corp DE increased its holdings in Landstar System by 13.4% during the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock worth $40,095,000 after buying an additional 29,595 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Landstar System during the second quarter worth $6,064,000. Engineers Gate Manager LP bought a new stake in Landstar System during the second quarter worth $1,485,000. Finally, Hsbc Holdings PLC lifted its stake in Landstar System by 244.1% in the second quarter. Hsbc Holdings PLC now owns 30,115 shares of the transportation company’s stock valued at $6,242,000 after acquiring an additional 21,363 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Down 2.1%

LSTR stock traded down $3.60 during midday trading on Friday, hitting $165.79. 300,177 shares of the company’s stock were exchanged, compared to its average volume of 324,423. The stock’s fifty day moving average price is $173.40 and its 200-day moving average price is $186.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market cap of $5.63 billion, a PE ratio of 42.95 and a beta of 0.90. Landstar System has a one year low of $121.11 and a one year high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. Research analysts predict that Landstar System will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

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

Landstar System Company Profile

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.