Landstar System (NASDAQ:LSTR) Receives Hold Rating from Benchmark

Benchmark reaffirmed their hold rating on shares of Landstar System (NASDAQ:LSTR) in a research note published on Wednesday, Benzinga reports.

LSTR has been the topic of a number of other reports. Evercore ISI raised their target price on Landstar System from $161.00 to $173.00 and gave the company an in-line rating in a research note on Tuesday, June 25th. Susquehanna raised their target price on Landstar System from $160.00 to $165.00 and gave the company a neutral rating in a research note on Wednesday. Stifel Nicolaus cut their target price on Landstar System from $166.00 to $164.00 and set a hold rating on the stock in a research note on Monday, April 29th. Morgan Stanley cut their target price on Landstar System from $147.00 to $145.00 and set an equal weight rating on the stock in a research note on Monday, July 8th. Finally, Raymond James began coverage on Landstar System in a research note on Wednesday, May 15th. They issued an outperform rating and a $205.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $179.73.

Landstar System Stock Performance

Shares of LSTR opened at $184.59 on Wednesday. The business’s fifty day moving average price is $182.84 and its 200 day moving average price is $184.85. Landstar System has a 12-month low of $161.13 and a 12-month high of $203.19. The stock has a market capitalization of $6.54 billion, a PE ratio of 28.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.22.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the business posted $1.85 earnings per share. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. Equities research analysts forecast that Landstar System will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.36 per share. This is a positive change 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%. The ex-dividend date is Tuesday, August 20th. Landstar System’s payout ratio is presently 20.31%.

Hedge Funds Weigh In On Landstar System

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Landstar System by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after purchasing an additional 25,387 shares in the last quarter. Boston Partners increased its stake in Landstar System by 1.0% in the 1st quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after purchasing an additional 15,424 shares in the last quarter. Victory Capital Management Inc. increased its stake in Landstar System by 19.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock worth $270,024,000 after purchasing an additional 224,286 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Landstar System by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 555,085 shares of the transportation company’s stock worth $107,496,000 after purchasing an additional 21,395 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Landstar System by 1.8% in the 4th quarter. Wells Fargo & Company MN now owns 437,754 shares of the transportation company’s stock worth $84,771,000 after purchasing an additional 7,669 shares in the last quarter. Hedge funds and other institutional investors 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.