Zacks Investment Research Upgrades Landstar System Inc. (LSTR) to “Buy”
Landstar System Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $91.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 11.21% from the stock’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. “
LSTR has been the topic of several other research reports. Stifel Nicolaus increased their target price on Landstar System from $67.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 20th. Deutsche Bank AG initiated coverage on Landstar System in a research note on Wednesday, November 2nd. They set a “buy” rating and a $82.00 target price on the stock. Cowen and Company increased their target price on Landstar System from $67.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, October 20th. Oppenheimer Holdings Inc. lowered Landstar System to an “outperform” rating in a research note on Tuesday, August 2nd. Finally, 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $66.30.
Shares of Landstar System (NASDAQ:LSTR) opened at 81.95 on Friday. Landstar System has a 52 week low of $53.03 and a 52 week high of $83.00. The stock’s 50 day moving average price is $73.81 and its 200-day moving average price is $69.52. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 25.67 and a beta of 0.69.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, October 19th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $788 million for the quarter, compared to analyst estimates of $576.65 million. During the same quarter in the prior year, the company earned $0.90 EPS. Landstar System’s revenue was down 6.4% on a year-over-year basis. Equities analysts anticipate that Landstar System will post $3.17 earnings per share for the current fiscal year.
The company also recently declared 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 yield of 0.44%. Landstar System’s dividend payout ratio is presently 11.29%.
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In related news, VP Larry S. Thomas sold 5,280 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $80.57, for a total transaction of $425,409.60. Following the transaction, the vice president now owns 28,371 shares in the company, valued at approximately $2,285,851.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LSTR. Parametrica Management Ltd purchased a new position in Landstar System during the second quarter worth about $255,000. LS Investment Advisors LLC increased its position in Landstar System by 69.8% in the second quarter. LS Investment Advisors LLC now owns 2,589 shares of the company’s stock worth $178,000 after buying an additional 1,064 shares in the last quarter. Clarkston Capital Partners LLC increased its position in Landstar System by 1.4% in the second quarter. Clarkston Capital Partners LLC now owns 644,739 shares of the company’s stock worth $44,268,000 after buying an additional 9,020 shares in the last quarter. First Quadrant L P CA increased its position in Landstar System by 20.4% in the second quarter. First Quadrant L P CA now owns 413,800 shares of the company’s stock worth $28,412,000 after buying an additional 70,000 shares in the last quarter. Finally, Capital One National Association increased its position in Landstar System by 2.5% in the second quarter. Capital One National Association now owns 111,372 shares of the company’s stock worth $7,647,000 after buying an additional 2,713 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.
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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