Landstar System (LSTR) Price Target Lowered to $120.00 at KeyCorp

Landstar System (NASDAQ:LSTR) had its price objective lowered by KeyCorp from $130.00 to $120.00 in a research note released on Friday, The Fly reports. The firm currently has an overweight rating on the transportation company’s stock.

LSTR has been the topic of a number of other research reports. Wells Fargo & Co upgraded Landstar System from a market perform rating to an outperform rating and dropped their price target for the company from $115.65 to $98.00 in a research note on Wednesday, August 22nd. Stifel Nicolaus upgraded Landstar System from a hold rating to a buy rating and increased their price target for the company from $123.00 to $128.00 in a research note on Monday, July 30th. Buckingham Research dropped their price target on Landstar System from $127.00 to $121.00 and set a neutral rating on the stock in a research note on Friday, October 12th. BidaskClub cut Landstar System from a buy rating to a hold rating in a research note on Saturday, September 22nd. Finally, Cleveland Research started coverage on Landstar System in a research note on Friday, October 19th. They issued a neutral rating on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $117.58.

LSTR opened at $99.71 on Friday. Landstar System has a 1-year low of $94.80 and a 1-year high of $128.70. The company has a current ratio of 1.94, a quick ratio of 1.82 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.04 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.20 and a beta of 0.87.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, October 24th. The transportation company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Landstar System had a return on equity of 33.82% and a net margin of 5.61%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. As a group, equities analysts expect that Landstar System will post 6.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Tuesday, November 13th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, November 9th. Landstar System’s payout ratio is 17.60%.

In other Landstar System news, COO Joseph J. Beacom sold 3,000 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $119.52, for a total transaction of $358,560.00. Following the transaction, the chief operating officer now owns 33,702 shares in the company, valued at approximately $4,028,063.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC bought a new position in Landstar System during the 2nd quarter worth $205,000. Culbertson A N & Co. Inc. bought a new position in Landstar System during the 3rd quarter worth $207,000. Hartford Investment Management Co. bought a new position in Landstar System during the 2nd quarter worth $208,000. NumerixS Investment Technologies Inc increased its position in Landstar System by 216.7% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the transportation company’s stock worth $209,000 after buying an additional 1,300 shares during the period. Finally, United Capital Management of KS Inc. bought a new position in Landstar System during the 3rd quarter worth $221,000. Hedge funds and other institutional investors own 97.30% of the company’s stock.

Landstar System Company Profile

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, including third party logistics and less-than-truckload service providers.

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