TD Cowen Boosts Landstar System (NASDAQ:LSTR) Price Target to $176.00

Landstar System (NASDAQ:LSTR) had its target price upped by TD Cowen from $171.00 to $176.00 in a research report released on Wednesday, Marketbeat Ratings reports. The firm currently has a hold rating on the transportation company’s stock.

Other equities analysts also recently issued research reports about the stock. Susquehanna decreased their price objective on shares of Landstar System from $165.00 to $160.00 and set a neutral rating for the company in a report on Friday, April 26th. Benchmark reaffirmed a hold rating on shares of Landstar System in a research report on Friday, April 26th. Evercore ISI increased their price objective on shares of Landstar System from $161.00 to $173.00 and gave the stock an in-line rating in a research note on Tuesday, June 25th. Wolfe Research downgraded Landstar System from an outperform rating to a peer perform rating in a research note on Thursday, July 11th. Finally, Stifel Nicolaus lowered their target price on Landstar System from $166.00 to $164.00 and set a hold rating for the company in a report on Monday, April 29th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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 debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.17. Landstar System has a 1 year low of $161.13 and a 1 year high of $203.19. The firm’s 50-day simple moving average is $182.84 and its 200-day simple moving average is $184.90. The firm has a market cap of $6.54 billion, a PE ratio of 28.40 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned $1.85 earnings per share. Landstar System’s quarterly revenue was down 10.8% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be given a $0.36 dividend. This is a boost from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 0.78%. The ex-dividend date is Tuesday, August 20th. Landstar System’s dividend payout ratio (DPR) is currently 20.31%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Landstar System during the fourth quarter valued at about $64,175,000. Victory Capital Management Inc. raised its position in shares of Landstar System by 19.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock worth $270,024,000 after buying an additional 224,286 shares in the last quarter. UBS Group AG lifted its stake in shares of Landstar System by 359.9% in the 4th quarter. UBS Group AG now owns 80,077 shares of the transportation company’s stock worth $15,507,000 after acquiring an additional 62,667 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Landstar System by 21.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 337,271 shares of the transportation company’s stock valued at $65,013,000 after acquiring an additional 59,530 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Landstar System by 30.9% during the first quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock valued at $34,880,000 after acquiring an additional 42,740 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.