Landstar System Inc. (NASDAQ:LSTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “LANDSTAR SYSTEM, INC., through its operating subsidiaries, provides a wide range of transportation services that operates the third largest truckload carrier in North America. “

Several other analysts have also commented on the stock. Oppenheimer Holdings Inc. lowered shares of Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Stifel Nicolaus lifted their target price on shares of Landstar System from $67.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 20th. Cowen and Company lifted their target price on shares of Landstar System from $67.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, October 20th. Citigroup Inc. downgraded shares of Landstar System to a “market perform” rating in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Deutsche Bank AG started coverage on shares of Landstar System in a report on Wednesday, November 2nd. They issued a “buy” rating and a $82.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Landstar System presently has a consensus rating of “Hold” and a consensus target price of $66.22.

Analyst Recommendations for Landstar System (NASDAQ:LSTR)

Shares of Landstar System (NASDAQ:LSTR) opened at 80.80 on Tuesday. Landstar System has a one year low of $53.03 and a one year high of $82.70. The stock’s 50 day moving average price is $70.64 and its 200 day moving average price is $68.63. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 25.31 and a beta of 0.69.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, October 19th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $788 million for the quarter, compared to analyst estimates of $576.65 million. Landstar System had a net margin of 4.34% and a return on equity of 27.78%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Analysts forecast that Landstar System will post $3.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Tuesday, November 8th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.45%. Landstar System’s payout ratio is currently 11.29%.

Several institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Landstar System by 11.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554 shares of the company’s stock worth $106,000 after buying an additional 158 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Landstar System by 77.6% in the second quarter. Victory Capital Management Inc. now owns 1,705 shares of the company’s stock worth $117,000 after buying an additional 745 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Landstar System during the third quarter worth approximately $123,000. PNC Financial Services Group Inc. increased its position in shares of Landstar System by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,806 shares of the company’s stock worth $124,000 after buying an additional 31 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Landstar System by 755.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,925 shares of the company’s stock worth $132,000 after buying an additional 1,700 shares during the last quarter.

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.

5 Day Chart for NASDAQ:LSTR

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