JPMorgan Chase & Co. Cuts Landstar System (NASDAQ:LSTR) Price Target to $181.00

Landstar System (NASDAQ:LSTR) had its price objective reduced by JPMorgan Chase & Co. from $204.00 to $181.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other equities analysts have also recently weighed in on the stock. Susquehanna raised their target price on shares of Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price target on the stock in a research report on Tuesday, August 4th. Zacks Research cut shares of Landstar System from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Janney Montgomery Scott set a $182.00 price objective on shares of Landstar System in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Landstar System has an average rating of “Hold” and an average target price of $191.14.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $166.98 on Monday. The stock has a 50 day moving average price of $176.00 and a 200 day moving average price of $185.99. Landstar System has a 52 week low of $121.11 and a 52 week high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market capitalization of $5.67 billion, a PE ratio of 43.26 and a beta of 0.90.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts predict that Landstar System will post 5.86 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. This is a boost from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 18th. Landstar System’s dividend payout ratio (DPR) is 45.60%.

Hedge Funds Weigh In On Landstar System

Several institutional investors and hedge funds have recently made changes to their positions in LSTR. Elevation Wealth Partners LLC lifted its holdings in shares of Landstar System by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after acquiring an additional 66 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Landstar System by 1.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after purchasing an additional 68 shares during the last quarter. Petros Family Wealth LLC grew its holdings in shares of Landstar System by 4.9% during the 1st quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after purchasing an additional 73 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Landstar System by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,987 shares of the transportation company’s stock worth $1,120,000 after purchasing an additional 91 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in Landstar System by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 8,170 shares of the transportation company’s stock worth $1,310,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc is a transportation and logistics company that provides asset-light freight transportation services through a network of independent agents, third-party capacity providers and company employees. The company coordinates the movement of freight for customers across a range of industries, matching shipments with available transportation resources.

Landstar’s services include truckload transportation, expedited and time-critical delivery, less-than-truckload shipping, heavy-haul and specialized transport, and freight brokerage.