Landstar System (NASDAQ:LSTR) Price Target Raised to $165.00

Landstar System (NASDAQ:LSTR) had its price target raised by Susquehanna from $160.00 to $165.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

A number of other research analysts have also recently issued reports on LSTR. Benchmark reissued a hold rating on shares of Landstar System in a research note on Friday, April 26th. TD Cowen lifted their price objective on shares of Landstar System from $171.00 to $176.00 and gave the company a hold rating in a research note on Wednesday. Wolfe Research cut shares of Landstar System from an outperform rating to a peer perform rating in a research note on Thursday, July 11th. Raymond James assumed coverage on shares of Landstar System in a research note on Wednesday, May 15th. They issued an outperform rating and a $205.00 price objective on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of Landstar System from $166.00 to $164.00 and set a hold rating on the stock in a research note on Monday, April 29th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Landstar System has an average rating of Hold and an average price target of $179.73.

Landstar System Stock Down 1.2 %

Shares of LSTR opened at $184.59 on Wednesday. Landstar System has a 12 month low of $161.13 and a 12 month high of $203.19. The firm’s 50 day moving average is $182.84 and its 200-day moving average is $184.85. The stock has a market capitalization of $6.54 billion, a PE ratio of 28.40 and a beta of 0.80. The company has a current ratio of 2.17, a quick ratio of 2.22 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. Equities research analysts forecast that Landstar System will post 6.1 EPS for the current year.

Landstar System Increases Dividend

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

Institutional Trading of Landstar System

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Landstar System by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after purchasing an additional 25,387 shares during the period. Boston Partners lifted its holdings in shares of Landstar System by 1.0% during the first quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after purchasing an additional 15,424 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Landstar System by 19.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock worth $270,024,000 after purchasing an additional 224,286 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Landstar System by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 555,085 shares of the transportation company’s stock worth $107,496,000 after purchasing an additional 21,395 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Landstar System by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 437,754 shares of the transportation company’s stock worth $84,771,000 after purchasing an additional 7,669 shares during the period. Institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

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.