Landstar System, Inc. (NASDAQ:LSTR) Receives Average Rating of “Hold” from Brokerages

Shares of Landstar System, Inc. (NASDAQ:LSTR) have received an average recommendation of “Hold” from the seventeen brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $196.00.

Several equities research analysts have recently issued reports on the stock. Morgan Stanley restated an “underweight” rating and issued a $145.00 target price on shares of Landstar System in a report on Monday, July 6th. JPMorgan Chase & Co. increased their price objective on shares of Landstar System from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. TD Cowen dropped their target price on Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Barclays upped their target price on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Zacks Research upgraded Landstar System from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd.

Landstar System Stock Down 2.9%

NASDAQ LSTR opened at $175.41 on Friday. Landstar System has a 52 week low of $119.32 and a 52 week high of $228.46. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $5.95 billion, a P/E ratio of 45.44 and a beta of 0.90. The stock’s 50-day moving average price is $194.07 and its 200-day moving average price is $182.27.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The business’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. On average, equities research analysts predict that Landstar System will post 5.84 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be given a $0.44 dividend. This is a boost from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 1.0%. Landstar System’s dividend payout ratio is currently 45.60%.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the sale, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Landstar System

Several institutional investors have recently added to or reduced their stakes in LSTR. California State Teachers Retirement System boosted its stake in Landstar System by 20,011.2% in the 2nd quarter. California State Teachers Retirement System now owns 8,234,347 shares of the transportation company’s stock worth $1,702,945,000 after purchasing an additional 8,193,403 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Landstar System during the second quarter worth $698,683,000. AQR Capital Management LLC grew its stake in Landstar System by 185.5% during the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after purchasing an additional 641,319 shares during the last quarter. Millennium Management LLC increased its holdings in Landstar System by 910.2% in the 4th quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock worth $77,868,000 after buying an additional 488,238 shares during the period. Finally, Bank of Montreal Can raised its position in Landstar System by 5,643.4% during the 4th quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock worth $55,577,000 after buying an additional 380,024 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Company Profile

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.