Landstar System (NASDAQ:LSTR) Price Target Raised to $188.00

Landstar System (NASDAQ:LSTR) had its price objective lifted by JPMorgan Chase & Co. from $182.00 to $188.00 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

LSTR has been the subject of several other research reports. Morgan Stanley lowered their price target on Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a research report on Monday, July 8th. Benchmark reaffirmed a hold rating on shares of Landstar System in a research report on Wednesday. TD Cowen lifted their price target on Landstar System from $171.00 to $176.00 and gave the stock a hold rating in a research report on Wednesday. Stifel Nicolaus lowered their price target on Landstar System from $166.00 to $164.00 and set a hold rating for the company in a research report on Monday, April 29th. Finally, Evercore ISI lifted their price objective on Landstar System from $161.00 to $173.00 and gave the stock an in-line rating in a report on Tuesday, June 25th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $179.73.

Landstar System Stock Performance

Shares of Landstar System stock opened at $184.59 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 2.22 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $6.54 billion, a P/E ratio of 28.40 and a beta of 0.80. The business has a fifty day simple moving average of $182.84 and a two-hundred day simple moving average of $184.90. Landstar System has a 12 month low of $161.13 and a 12 month high of $203.19.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 earnings per share. On average, equities analysts forecast that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, August 20th. This is a boost from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 0.78%. Landstar System’s payout ratio is currently 20.31%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of Landstar System by 18.7% during the 4th quarter. Blue Trust Inc. now owns 755 shares of the transportation company’s stock worth $134,000 after acquiring an additional 119 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Landstar System by 1.2% during the 4th quarter. State of Michigan Retirement System now owns 8,670 shares of the transportation company’s stock worth $1,679,000 after acquiring an additional 100 shares in the last quarter. Trust Point Inc. bought a new position in shares of Landstar System during the 4th quarter valued at approximately $377,000. Compass Ion Advisors LLC bought a new position in shares of Landstar System during the 4th quarter valued at approximately $205,000. Finally, Boston Trust Walden Corp increased its position in shares of Landstar System by 1.2% during the 4th quarter. Boston Trust Walden Corp now owns 235,854 shares of the transportation company’s stock valued at $45,673,000 after purchasing an additional 2,722 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It 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 and less-than-truckload services.