Landstar System Inc. (LSTR) Downgraded by Zacks Investment Research to Hold
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 equities analysts have also issued reports on the company. Deutsche Bank AG began coverage on Landstar System in a research note on Wednesday, November 2nd. They issued a buy rating and a $82.00 price target on the stock. Stifel Nicolaus boosted their price target on Landstar System from $67.00 to $70.00 and gave the company a hold rating in a research note on Thursday, October 20th. Citigroup Inc. lowered Landstar System to a market perform rating in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Cowen and Company boosted their price target on Landstar System from $67.00 to $70.00 and gave the company a market perform rating in a research note on Thursday, October 20th. Finally, Oppenheimer Holdings Inc. lowered Landstar System to an outperform rating in a research note on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $66.30.
Landstar System (NASDAQ:LSTR) opened at 82.15 on Friday. The company has a market capitalization of $3.43 billion, a PE ratio of 25.74 and a beta of 0.69. Landstar System has a 1-year low of $53.03 and a 1-year high of $83.00. The company has a 50 day moving average of $73.39 and a 200 day moving average of $69.37.
Landstar System (NASDAQ:LSTR) last announced its 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. Landstar System had a return on equity of 27.78% and a net margin of 4.34%. The business had revenue of $788 million for the quarter, compared to analysts’ expectations of $576.65 million. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. On average, analysts predict that Landstar System will post $3.17 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Tuesday, November 8th will be paid a $0.09 dividend. The ex-dividend date is Friday, November 4th. This represents a $0.36 dividend on an annualized basis and a yield of 0.44%. Landstar System’s dividend payout ratio (DPR) is presently 11.29%.
In related news, VP Larry S. Thomas sold 5,280 shares of the stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $80.57, for a total transaction of $425,409.60. Following the sale, the vice president now owns 28,371 shares of the company’s stock, valued at approximately $2,285,851.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of LSTR. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 period. Victory Capital Management Inc. boosted its stake 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 period. Hussman Strategic Advisors Inc. bought a new stake in shares of Landstar System during the third quarter worth about $123,000. PNC Financial Services Group Inc. boosted its stake 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 period. Finally, Fuller & Thaler Asset Management Inc. boosted its stake 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 period. 98.24% of the stock is currently owned by institutional investors and hedge funds.
Landstar System Company Profile
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.
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