Landstar System (NASDAQ:LSTR) Stock Gets Price Target Cut from Morgan Stanley

Landstar System (NASDAQ:LSTR) had its target price cut by Morgan Stanley from $145.00 to $130.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the transportation company’s stock.

LSTR has been the subject of a number of other research reports. Stifel Nicolaus reduced their price target on Landstar System from $197.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 28th. UBS Group cut their price target on Landstar System from $195.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. Robert W. Baird dropped their target price on shares of Landstar System from $215.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. TD Cowen decreased their price target on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Finally, Wolfe Research raised Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 target price on the stock in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $181.33.

Landstar System Stock Performance

Shares of NASDAQ:LSTR opened at $149.68 on Wednesday. The business has a fifty day moving average of $163.69 and a 200-day moving average of $176.21. The firm has a market cap of $5.05 billion, a PE ratio of 25.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 1.79. Landstar System has a twelve month low of $121.11 and a twelve month high of $228.46.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.25). Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $1.22 EPS. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities research analysts predict that Landstar System will post 6.02 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 17th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 17th. Landstar System’s dividend payout ratio (DPR) is 37.29%.

Insider Buying and Selling at Landstar System

In related news, CEO Frank A. Lonegro bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was bought at an average cost of $142.92 per share, with a total value of $714,600.00. Following the completion of the purchase, the chief executive officer owned 28,110 shares of the company’s stock, valued at approximately $4,017,481.20. The trade was a 21.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Landstar System

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Landstar System during the second quarter valued at approximately $698,683,000. First Trust Advisors LP boosted its holdings in Landstar System by 19.1% in the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock worth $179,315,000 after acquiring an additional 179,294 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Landstar System by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the transportation company’s stock worth $109,506,000 after purchasing an additional 15,825 shares during the last quarter. Fenimore Asset Management Inc increased its position in shares of Landstar System by 0.4% in the 3rd quarter. Fenimore Asset Management Inc now owns 508,778 shares of the transportation company’s stock valued at $85,803,000 after acquiring an additional 2,193 shares during the period. Finally, Copeland Capital Management LLC raised its stake in shares of Landstar System by 6.5% in the third quarter. Copeland Capital Management LLC now owns 340,739 shares of the transportation company’s stock worth $57,464,000 after purchasing an additional 20,761 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc. is a transportation and logistics company that arranges freight movement through an asset-light network of independent agents, business capacity owners, and third-party transportation providers. Rather than relying primarily on a company-owned fleet, Landstar connects customers with available transportation capacity and coordinates shipments through its network. The company offers truckload services, including van, flatbed, and specialized transportation, as well as less-than-truckload, expedited, and intermodal shipping.