Landstar System (NASDAQ:LSTR) Price Target Lowered to $195.00 at Raymond James

Landstar System (NASDAQ:LSTR) had its price objective cut by Raymond James from $205.00 to $195.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

LSTR has been the subject of several other reports. Benchmark reiterated a hold rating on shares of Landstar System in a research report on Wednesday. Wolfe Research downgraded Landstar System from an outperform rating to a peer perform rating in a research report on Thursday, July 11th. Evercore ISI upped their price target on Landstar System from $161.00 to $173.00 and gave the stock an in-line rating in a research report on Tuesday, June 25th. TD Cowen upped their price target on Landstar System from $171.00 to $176.00 and gave the stock a hold rating in a research report on Wednesday. Finally, Susquehanna upped their price target on Landstar System from $160.00 to $165.00 and gave the stock a neutral rating in a research report on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $179.73.

Landstar System Price Performance

Shares of LSTR opened at $184.59 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.17. The stock has a 50 day simple moving average of $182.84 and a 200 day simple moving average of $184.85. Landstar System has a 52-week low of $161.13 and a 52-week high of $203.19. The firm has a market capitalization of $6.54 billion, a PE ratio of 28.40 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned $1.85 EPS. Landstar System’s quarterly revenue was down 10.8% compared to the same quarter last year. Sell-side analysts predict that Landstar System will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.78%. This is a boost from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio is currently 20.31%.

Institutional Investors Weigh In On Landstar System

Large investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV raised its stake in Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 74 shares during the period. Mather Group LLC. bought a new stake in Landstar System in the 1st quarter valued at $27,000. SRS Capital Advisors Inc. raised its stake in Landstar System by 209.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 192 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 130 shares during the period. Montag A & Associates Inc. bought a new stake in Landstar System in the 4th quarter valued at $48,000. Finally, GAMMA Investing LLC bought a new stake in Landstar System in the 4th quarter valued at $58,000. Institutional investors own 97.95% of the company’s stock.

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.