Landstar System (NASDAQ:LSTR) Price Target Raised to $150.00

Landstar System (NASDAQ:LSTR) had its target price hoisted by TD Cowen from $138.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI cut their price target on Landstar System from $132.00 to $125.00 and set an “in-line” rating for the company in a report on Tuesday, September 30th. UBS Group lowered their price target on Landstar System from $149.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Morgan Stanley upped their price objective on shares of Landstar System from $133.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, December 8th. Wells Fargo & Company upgraded shares of Landstar System from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $145.00 to $170.00 in a report on Tuesday, January 6th. Finally, Truist Financial decreased their target price on shares of Landstar System from $135.00 to $130.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $144.17.

Landstar System Stock Up 2.1%

Shares of NASDAQ LSTR opened at $155.70 on Friday. The firm’s 50-day moving average is $136.83 and its two-hundred day moving average is $133.59. The company has a market capitalization of $5.35 billion, a PE ratio of 39.72 and a beta of 0.84. Landstar System has a 12-month low of $119.32 and a 12-month high of $179.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.01.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business earned $1.41 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts anticipate that Landstar System will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be given a dividend of $2.00 per share. This represents a yield of 134.0%. The ex-dividend date of this dividend is Tuesday, January 6th. Landstar System’s dividend payout ratio is 40.82%.

Institutional Investors Weigh In On Landstar System

Several institutional investors have recently bought and sold shares of LSTR. Vestmark Advisory Solutions Inc. increased its position in shares of Landstar System by 0.4% in the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock worth $2,523,000 after acquiring an additional 78 shares in the last quarter. Cardinal Capital Management boosted its position in Landstar System by 0.4% during the 3rd quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock worth $2,981,000 after purchasing an additional 90 shares during the period. Huntington National Bank increased its holdings in Landstar System by 9.7% in the 3rd quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 100 shares in the last quarter. Eukles Asset Management raised its position in Landstar System by 1.1% in the second quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock valued at $1,398,000 after purchasing an additional 105 shares during the period. Finally, MAI Capital Management raised its position in Landstar System by 79.3% in the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 107 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

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.