Landstar System (NASDAQ:LSTR) PT Lowered to $195.00 at Raymond James

Landstar System (NASDAQ:LSTR) had its price objective cut by Raymond James from $205.00 to $195.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Several other research firms have also recently issued reports on LSTR. Stifel Nicolaus decreased their price objective on shares of Landstar System from $166.00 to $164.00 and set a hold rating for the company in a research report on Monday, April 29th. Morgan Stanley decreased their price objective on shares of Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a research note on Monday, July 8th. Benchmark restated a hold rating on shares of Landstar System in a research note on Wednesday. TD Cowen upped their price objective on shares of Landstar System from $171.00 to $176.00 and gave the company a hold rating in a research note on Wednesday. Finally, Wolfe Research downgraded shares of Landstar System from an outperform rating to a peer perform rating in a research note on Thursday, July 11th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Landstar System currently has a consensus rating of Hold and an average price target of $179.73.

Landstar System Price Performance

Landstar System stock opened at $184.59 on Wednesday. The stock has a market cap of $6.54 billion, a P/E ratio of 28.40 and a beta of 0.80. The company has a fifty day simple moving average of $182.84 and a 200-day simple moving average of $184.90. Landstar System has a 12-month low of $161.13 and a 12-month high of $203.19. The company has a current ratio of 2.17, a quick ratio of 2.22 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.85 EPS. Equities analysts expect that Landstar System will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.36 per share. This is a boost from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Tuesday, August 20th. Landstar System’s dividend payout ratio is currently 20.31%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Landstar System by 18.7% in the fourth quarter. Blue Trust Inc. now owns 755 shares of the transportation company’s stock valued at $134,000 after buying an additional 119 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Landstar System by 1.2% during the 4th quarter. State of Michigan Retirement System now owns 8,670 shares of the transportation company’s stock worth $1,679,000 after purchasing an additional 100 shares in the last quarter. Trust Point Inc. purchased a new position in shares of Landstar System during the 4th quarter worth approximately $377,000. Compass Ion Advisors LLC purchased a new position in shares of Landstar System during the 4th quarter worth approximately $205,000. Finally, Boston Trust Walden Corp increased its stake in shares of Landstar System by 1.2% during the 4th quarter. Boston Trust Walden Corp now owns 235,854 shares of the transportation company’s stock worth $45,673,000 after purchasing an additional 2,722 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

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, such as third party logistics and less-than-truckload services.