Deutsche Bank AG cut shares of Landstar System, Inc. (NASDAQ:LSTR) from a buy rating to a hold rating in a research note published on Monday, July 31st, MarketBeat.com reports. They currently have $87.00 target price on the transportation company’s stock, down from their prior target price of $97.00.
Several other research firms have also commented on LSTR. BidaskClub lowered Landstar System from a buy rating to a hold rating in a report on Monday, July 24th. Zacks Investment Research raised Landstar System from a hold rating to a buy rating and set a $98.00 target price on the stock in a report on Thursday, July 6th. Stifel Nicolaus raised their target price on Landstar System from $81.00 to $87.00 and gave the stock a hold rating in a report on Friday, April 28th. Finally, Cowen and Company raised their price objective on Landstar System from $76.00 to $82.00 and gave the company a market perform rating in a report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Landstar System currently has a consensus rating of Hold and an average target price of $84.86.
Landstar System (NASDAQ:LSTR) opened at 83.90 on Monday. The stock has a market capitalization of $3.52 billion, a PE ratio of 24.23 and a beta of 0.75. The stock’s 50 day moving average price is $85.76 and its 200-day moving average price is $85.28. Landstar System has a 52-week low of $65.05 and a 52-week high of $90.80.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $870.34 million for the quarter, compared to analyst estimates of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. Landstar System’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, equities analysts expect that Landstar System will post $3.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a $0.10 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.48%. The ex-dividend date is Thursday, August 10th. Landstar System’s dividend payout ratio (DPR) is presently 10.40%.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Landstar System by 7,684.2% in the first quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock valued at $350,127,000 after buying an additional 4,035,361 shares during the period. Vanguard Group Inc. increased its position in Landstar System by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock valued at $289,747,000 after buying an additional 130,461 shares during the period. Royce & Associates LP increased its position in Landstar System by 0.5% in the second quarter. Royce & Associates LP now owns 1,355,610 shares of the transportation company’s stock valued at $116,040,000 after buying an additional 7,100 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Landstar System by 3.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,081,447 shares of the transportation company’s stock valued at $92,572,000 after buying an additional 31,519 shares during the period. Finally, Eagle Asset Management Inc. increased its position in Landstar System by 1.1% in the second quarter. Eagle Asset Management Inc. now owns 725,059 shares of the transportation company’s stock valued at $62,065,000 after buying an additional 7,996 shares during the period. Institutional investors and hedge funds own 97.12% of the company’s stock.
About Landstar System
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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