Benchmark started coverage on shares of Landstar System (NASDAQ:LSTR – Get Rating) in a research note released on Tuesday morning, Stock Target Advisor reports. The brokerage issued a hold rating on the transportation company's stock.
LSTR has been the subject of several other reports. Cowen dropped their target price on shares of Landstar System to $157.00 in a research report on Friday, July 22nd. Wells Fargo & Company dropped their target price on shares of Landstar System from $165.00 to $147.00 and set an equal weight rating for the company in a research report on Friday, July 15th. Susquehanna Bancshares lowered their price target on shares of Landstar System from $155.00 to $153.00 and set a neutral rating for the company in a research report on Friday, July 22nd. StockNews.com cut shares of Landstar System from a buy rating to a hold rating in a research report on Saturday, September 3rd. Finally, Evercore ISI lowered their price target on shares of Landstar System from $173.00 to $161.00 and set an in-line rating for the company in a research report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $162.08.
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Landstar System Price Performance
Shares of Landstar System stock opened at $143.61 on Tuesday. The firm has a market cap of $5.23 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. Landstar System has a 12-month low of $137.15 and a 12-month high of $188.63. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.09. The company's fifty day simple moving average is $150.23 and its two-hundred day simple moving average is $150.55.
Landstar System (NASDAQ:LSTR – Get Rating) last posted its earnings results on Wednesday, July 20th. The transportation company reported $3.05 EPS for the quarter, missing the consensus estimate of $3.25 by ($0.20). Landstar System had a return on equity of 51.73% and a net
margin of 5.89%. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the prior year, the business posted $2.40 earnings per share. The company's revenue for the quarter was up 25.7% on a year-over-year basis. As a group, equities analysts expect that Landstar System will post 11.7 EPS for the current year.
Landstar System Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 8th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 5th. This is a positive change from Landstar System's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.84%. Landstar System's payout ratio is currently 10.03%.
Insider Transactions at Landstar System
In other news, COO Joseph J. Beacom sold 2,863 shares of Landstar System stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $156.56, for a total value of $448,231.28. Following the completion of the sale, the chief operating officer now directly owns 17,805 shares in the company, valued at $2,787,550.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.
Institutional Trading of Landstar System
Large investors have recently made changes to their positions in the stock. Atria Investments LLC grew its position in Landstar System by 11.4% during the first quarter. Atria Investments LLC now owns 7,155 shares of the transportation company's stock valued at $1,079,000 after buying an additional 730 shares during the period. AE Wealth Management LLC bought a new stake in Landstar System during the first quarter valued at approximately $542,000. Envestnet Asset Management Inc. grew its position in Landstar System by 1.1% during the first quarter. Envestnet Asset Management Inc. now owns 98,120 shares of the transportation company's stock valued at $14,799,000 after buying an additional 1,056 shares during the period. AlphaCrest Capital Management LLC grew its position in Landstar System by 163.9% during the fourth quarter. AlphaCrest Capital Management LLC now owns 11,199 shares of the transportation company's stock valued at $2,005,000 after buying an additional 6,956 shares during the period. Finally, Fieldpoint Private Securities LLC grew its position in Landstar System by 23.6% during the first quarter. Fieldpoint Private Securities LLC now owns 450 shares of the transportation company's stock valued at $68,000 after buying an additional 86 shares during the period. 98.90% of the stock is currently owned by institutional investors.
Landstar System Company Profile
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Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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