Landstar System, Inc. (NASDAQ:LSTR) Stock Has Consensus Target Price of $191.14 According to Brokerages

Landstar System, Inc. (NASDAQ:LSTR) has earned an average recommendation of “Hold” from the seventeen brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $191.14.

A number of research firms recently issued reports on LSTR. Janney Montgomery Scott set a $182.00 target price on shares of Landstar System in a report on Wednesday, July 29th. Robert W. Baird decreased their price objective on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. The Goldman Sachs Group increased their price objective on shares of Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. Morgan Stanley reissued an “underweight” rating and issued a $145.00 price objective on shares of Landstar System in a research report on Monday, July 6th. Finally, Barclays raised their target price on shares of Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th.

Landstar System Stock Performance

NASDAQ LSTR opened at $171.28 on Friday. The business’s 50-day moving average price is $174.27 and its 200 day moving average price is $186.90. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System has a twelve month low of $121.11 and a twelve month high of $228.46. The company has a market capitalization of $5.81 billion, a PE ratio of 44.37 and a beta of 0.90.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, research analysts predict that Landstar System will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th were issued a $0.44 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 1.0%. This is an increase from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s payout ratio is currently 45.60%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new position in Landstar System in the 2nd quarter valued at about $21,043,000. Bank of America Corp DE increased its position in shares of Landstar System by 13.4% during the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock worth $40,095,000 after acquiring an additional 29,595 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Landstar System during the second quarter worth about $6,064,000. Engineers Gate Manager LP acquired a new position in shares of Landstar System in the second quarter worth about $1,485,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Landstar System by 244.1% in the second quarter. Hsbc Holdings PLC now owns 30,115 shares of the transportation company’s stock worth $6,242,000 after acquiring an additional 21,363 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

About Landstar System

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.