Landstar System Inc. (LSTR) Raised to Hold at Zacks Investment Research
Landstar System Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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. “
Several other brokerages have also recently commented on LSTR. Oppenheimer Holdings Inc. cut shares of Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Citigroup Inc. cut shares of Landstar System to a “market perform” rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.66.
Landstar System (NASDAQ:LSTR) traded up 1.41% during midday trading on Thursday, hitting $66.98. 346,164 shares of the company traded hands. Landstar System has a 12-month low of $53.03 and a 12-month high of $72.97. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 20.70 and a beta of 0.76. The stock’s 50-day moving average price is $68.42 and its 200 day moving average price is $67.13.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.81 by $0.05. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. The business had revenue of $775 million for the quarter, compared to the consensus estimate of $790.95 million. During the same period last year, the firm earned $0.92 earnings per share. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. On average, equities analysts forecast that Landstar System will post $3.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 8th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Thursday, August 4th. This is a positive change from Landstar System’s previous quarterly dividend of $0.08. Landstar System’s dividend payout ratio is presently 11.15%.
In other Landstar System news, CMO Patrick J. O’malley sold 1,787 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $69.17, for a total transaction of $123,606.79. Following the transaction, the chief marketing officer now owns 40,237 shares in the company, valued at approximately $2,783,193.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Landstar System by 77.6% in the second quarter. Victory Capital Management Inc. now owns 1,705 shares of the company’s stock worth $117,000 after buying an additional 745 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Landstar System by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,806 shares of the company’s stock worth $124,000 after buying an additional 31 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Landstar System by 755.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,925 shares of the company’s stock worth $132,000 after buying an additional 1,700 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Landstar System during the second quarter worth about $135,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Landstar System during the second quarter worth about $137,000.
About Landstar System
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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