Landstar System (NASDAQ:LSTR) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Landstar System (NASDAQ:LSTR) from a sell rating to a hold rating in a research note published on Saturday.

Other research analysts have also issued reports about the stock. Truist Financial decreased their price target on shares of Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. TD Cowen cut their price objective on shares of Landstar System from $135.00 to $127.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Landstar System in a research note on Monday, December 22nd. Barclays dropped their price target on Landstar System from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Finally, Zacks Research raised Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $136.58.

Landstar System Stock Up 1.0%

LSTR stock opened at $146.02 on Friday. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $179.74. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 37.25 and a beta of 0.85. The business’s 50 day moving average price is $133.20 and its two-hundred day moving average price is $132.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.01.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 EPS. As a group, analysts forecast that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed an annual dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be issued a $2.00 dividend. This represents a yield of 142.0%. The ex-dividend date is Tuesday, January 6th. Landstar System’s payout ratio is presently 40.82%.

Institutional Trading of Landstar System

A number of institutional investors and hedge funds have recently modified their holdings of LSTR. Hudson Bay Capital Management LP lifted its holdings in shares of Landstar System by 40.8% during the third quarter. Hudson Bay Capital Management LP now owns 17,115 shares of the transportation company’s stock valued at $2,098,000 after purchasing an additional 4,961 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in Landstar System in the 3rd quarter worth about $204,000. JPMorgan Chase & Co. lifted its stake in Landstar System by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after acquiring an additional 21,163 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Landstar System by 1,490.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 298 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Landstar System during the 3rd quarter valued at about $64,000. Institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.