Landstar System Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
A number of other brokerages have also recently issued reports on LSTR. Citigroup Inc. cut shares of Landstar System to a “market perform” rating in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Oppenheimer Holdings Inc. cut shares of Landstar System to an “outperform” rating in a report on Tuesday, August 2nd. Cowen and Company upped their target price on shares of Landstar System from $67.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, October 20th. Finally, Stifel Nicolaus upped their target price on shares of Landstar System from $67.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.06.
Shares of Landstar System (NASDAQ:LSTR) opened at 71.55 on Tuesday. The firm’s 50-day moving average price is $67.28 and its 200-day moving average price is $67.60. The firm has a market capitalization of $2.99 billion, a P/E ratio of 22.42 and a beta of 0.80. Landstar System has a 12-month low of $53.03 and a 12-month high of $73.20.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Landstar System had a net margin of 4.34% and a return on equity of 27.78%. The firm had revenue of $788 million for the quarter, compared to analysts’ expectations of $576.65 million. During the same period in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts predict that Landstar System will post $3.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Tuesday, November 8th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.50%. Landstar System’s payout ratio is presently 11.29%.
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. Geode Capital Management LLC raised its stake in Landstar System by 6.7% in the first quarter. Geode Capital Management LLC now owns 279,252 shares of the company’s stock valued at $18,042,000 after buying an additional 17,548 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Landstar System by 29.1% in the first quarter. Goldman Sachs Group Inc. now owns 248,301 shares of the company’s stock valued at $16,042,000 after buying an additional 55,947 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Landstar System by 84.9% in the first quarter. UBS Asset Management Americas Inc. now owns 515,305 shares of the company’s stock valued at $33,294,000 after buying an additional 236,652 shares in the last quarter. UBS Group AG raised its stake in Landstar System by 0.7% in the first quarter. UBS Group AG now owns 46,861 shares of the company’s stock valued at $3,028,000 after buying an additional 326 shares in the last quarter. Finally, State Street Corp raised its stake in Landstar System by 1.2% in the first quarter. State Street Corp now owns 1,247,965 shares of the company’s stock valued at $80,628,000 after buying an additional 14,857 shares in the last quarter.
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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