Landstar System (NASDAQ:LSTR) PT Raised to $188.00 at JPMorgan Chase & Co.

Landstar System (NASDAQ:LSTR) had its target price raised by JPMorgan Chase & Co. from $182.00 to $188.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on LSTR. Evercore ISI lifted their price objective on Landstar System from $161.00 to $173.00 and gave the stock an in-line rating in a report on Tuesday, June 25th. Raymond James cut their price target on Landstar System from $205.00 to $195.00 and set an outperform rating for the company in a research note on Wednesday. Susquehanna increased their price objective on shares of Landstar System from $160.00 to $165.00 and gave the company a neutral rating in a research note on Wednesday. Morgan Stanley cut their target price on shares of Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a research report on Monday, July 8th. Finally, Wolfe Research lowered shares of Landstar System from an outperform rating to a peer perform rating in a research report on Thursday, July 11th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $179.73.

Landstar System Price Performance

Shares of NASDAQ 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. Landstar System has a one year low of $161.13 and a one year high of $203.19. The firm has a market capitalization of $6.54 billion, a P/E ratio of 28.40 and a beta of 0.80. The company’s fifty day moving average is $182.84 and its two-hundred day moving average is $184.85.

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

Landstar System Increases Dividend

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

Institutional Investors Weigh In On Landstar System

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in Landstar System by 18.7% in the 4th quarter. Blue Trust Inc. now owns 755 shares of the transportation company’s stock worth $134,000 after buying an additional 119 shares during the last quarter. State of Michigan Retirement System grew its holdings in Landstar System by 1.2% in the fourth quarter. State of Michigan Retirement System now owns 8,670 shares of the transportation company’s stock valued at $1,679,000 after purchasing an additional 100 shares during the period. Trust Point Inc. acquired a new position in Landstar System during the fourth quarter worth approximately $377,000. Compass Ion Advisors LLC acquired a new position in Landstar System during the fourth quarter worth approximately $205,000. Finally, Boston Trust Walden Corp raised its stake in Landstar System by 1.2% during the fourth quarter. Boston Trust Walden Corp now owns 235,854 shares of the transportation company’s stock worth $45,673,000 after purchasing an additional 2,722 shares during the period. Institutional investors and hedge funds 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.