Stifel Nicolaus Cuts Landstar System (NASDAQ:LSTR) Price Target to $160.00

Landstar System (NASDAQ:LSTR) had its target price trimmed by Stifel Nicolaus from $164.00 to $160.00 in a research note published on Thursday, Benzinga reports. The firm currently has a hold rating on the transportation company’s stock.

A number of other brokerages have also issued reports on LSTR. TD Cowen increased their price target on Landstar System from $171.00 to $176.00 and gave the company a hold rating in a research note on Wednesday. Morgan Stanley decreased their price target on Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a research note on Monday, July 8th. Susquehanna increased their price target on Landstar System from $160.00 to $165.00 and gave the company a neutral rating in a research note on Wednesday. Raymond James decreased their price target on Landstar System from $205.00 to $195.00 and set an outperform rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Landstar System from $182.00 to $188.00 and gave the company a neutral rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Landstar System has a consensus rating of Hold and a consensus price target of $179.73.

Landstar System Stock Down 1.2 %

NASDAQ LSTR traded down $2.21 on Thursday, hitting $184.59. 187,982 shares of the stock traded hands, compared to its average volume of 309,661. The stock has a 50-day moving average of $182.84 and a 200 day moving average of $184.85. Landstar System has a twelve month low of $161.13 and a twelve month high of $203.19. The company has a market capitalization of $6.54 billion, a P/E ratio of 28.40 and a beta of 0.80. The company has a current ratio of 2.17, a quick ratio of 2.22 and a debt-to-equity ratio of 0.05.

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, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. Landstar System’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 earnings per share. As a group, analysts expect 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. Stockholders of record on Tuesday, August 20th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.78%. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio is presently 20.31%.

Institutional Trading of Landstar System

Hedge funds have recently modified their holdings of the business. Mather Group LLC. purchased a new stake in shares of Landstar System in the first quarter valued at $27,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Landstar System by 108.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after acquiring an additional 74 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Landstar System by 209.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 192 shares of the transportation company’s stock worth $37,000 after acquiring an additional 130 shares in the last quarter. Montag A & Associates Inc. purchased a new stake in shares of Landstar System during the fourth quarter worth $48,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Landstar System during the fourth quarter worth $58,000. 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.