Landstar System, Inc. (LSTR) Hits New 52-Week High at $94.65
Landstar System, Inc. (NASDAQ:LSTR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $94.65 and last traded at $94.53, with a volume of 224,742 shares trading hands. The stock had previously closed at $94.35.
LSTR has been the topic of several research reports. Stifel Nicolaus upgraded Landstar System from a “hold” rating to a “buy” rating and lifted their price target for the company from $87.00 to $95.00 in a research report on Monday, July 31st. BidaskClub lowered Landstar System from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Thursday, July 6th. Cowen and Company restated a “hold” rating and set a $86.00 price target on shares of Landstar System in a research report on Monday, August 28th. Finally, Morgan Stanley lifted their price target on Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $87.63.
The stock has a market cap of $3.95 billion, a P/E ratio of 27.21 and a beta of 0.74. The firm’s 50 day moving average is $85.50 and its 200-day moving average is $85.37.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $870.34 million for the quarter, compared to analysts’ expectations of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. Equities research analysts predict that Landstar System, Inc. will post $3.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Thursday, August 10th. This is a boost from Landstar System’s previous quarterly dividend of $0.09. Landstar System’s dividend payout ratio (DPR) is 11.56%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new stake in Landstar System during the 2nd quarter valued at $1,517,000. Koch Industries Inc. bought a new stake in Landstar System during the 2nd quarter valued at $339,000. Verition Fund Management LLC bought a new stake in Landstar System during the 2nd quarter valued at $684,000. Ameritas Investment Partners Inc. boosted its position in Landstar System by 0.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 29,846 shares of the transportation company’s stock valued at $2,554,000 after acquiring an additional 231 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C boosted its position in Landstar System by 6.5% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 2,430,445 shares of the transportation company’s stock valued at $208,046,000 after acquiring an additional 147,478 shares in the last quarter. 97.00% of the stock is currently owned by institutional investors and hedge funds.
Landstar System Company Profile
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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