Landstar System Inc. (LSTR) Rating Increased to Buy at Zacks Investment Research
Landstar System Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $90.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 11.46% from the company’s previous close.
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. “
Other equities analysts have also recently issued reports about the stock. Deutsche Bank AG assumed coverage on shares of Landstar System in a research report on Wednesday, November 2nd. They issued a “buy” rating and a $82.00 price objective for the company. Citigroup Inc. cut shares of Landstar System to a “market perform” rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Cowen and Company upped their price objective on shares of Landstar System from $67.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, October 20th. Stifel Nicolaus upped their price objective on shares of Landstar System from $67.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 20th. Finally, Oppenheimer Holdings Inc. cut shares of Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.22.
Shares of Landstar System (NASDAQ:LSTR) opened at 80.75 on Wednesday. The stock’s 50 day moving average price is $71.31 and its 200-day moving average price is $68.80. The firm has a market cap of $3.37 billion, a PE ratio of 25.30 and a beta of 0.69. Landstar System has a 52-week low of $53.03 and a 52-week high of $83.00.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Landstar System had a net margin of 4.34% and a return on equity of 27.78%. The firm earned $788 million during the quarter, compared to analysts’ expectations of $576.65 million. During the same period in the prior year, the company earned $0.90 EPS. The firm’s revenue was down 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Landstar System will post $3.17 earnings per share for the current fiscal year.
The firm also recently disclosed 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 is Friday, November 4th. This represents a $0.36 annualized dividend and a yield of 0.45%. Landstar System’s dividend payout ratio (DPR) is 11.29%.
Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Landstar System by 11.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554 shares of the company’s stock valued at $106,000 after buying an additional 158 shares during the period. Victory Capital Management Inc. raised its stake in Landstar System by 77.6% in the second quarter. Victory Capital Management Inc. now owns 1,705 shares of the company’s stock valued at $117,000 after buying an additional 745 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Landstar System during the third quarter valued at $123,000. PNC Financial Services Group Inc. raised its stake in Landstar System by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,806 shares of the company’s stock valued at $124,000 after buying an additional 31 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Landstar System by 755.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,925 shares of the company’s stock valued at $132,000 after buying an additional 1,700 shares during the period.
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.
Receive News & Stock Ratings for Landstar System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System Inc. and related stocks with our FREE daily email newsletter.