Landstar System (NASDAQ:LSTR) Price Target Raised to $162.00

Landstar System (NASDAQ:LSTR) had its target price hoisted by JPMorgan Chase & Co. from $134.00 to $162.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other analysts have also weighed in on LSTR. Truist Financial decreased their target price on shares of Landstar System from $135.00 to $130.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Landstar System in a research note on Friday, January 9th. Zacks Research upgraded Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Robert W. Baird set a $159.00 target price on Landstar System in a report on Wednesday, January 7th. Finally, Wells Fargo & Company raised Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $145.00 to $170.00 in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $149.25.

Landstar System Stock Performance

LSTR opened at $154.50 on Monday. The stock’s 50 day simple moving average is $138.46 and its 200-day simple moving average is $133.96. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.31 billion, a PE ratio of 39.41 and a beta of 0.84. Landstar System has a 1 year low of $119.32 and a 1 year high of $179.74.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. Sell-side analysts forecast that Landstar System will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be issued a dividend of $2.00 per share. This represents a yield of 134.0%. The ex-dividend date of this dividend is Tuesday, January 6th. Landstar System’s dividend payout ratio (DPR) is currently 40.82%.

Institutional Trading of Landstar System

Several large investors have recently made changes to their positions in LSTR. Quarry LP acquired a new stake in shares of Landstar System in the third quarter valued at $25,000. MAI Capital Management grew its holdings in Landstar System by 79.3% during the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after acquiring an additional 107 shares during the last quarter. UMB Bank n.a. increased its position in Landstar System by 335.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 225 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock worth $39,000 after acquiring an additional 152 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.