Landstar System (NASDAQ:LSTR) Stock Gets Price Target Cut from Wells Fargo & Company

Landstar System (NASDAQ:LSTR) had its price target trimmed by Wells Fargo & Company from $225.00 to $215.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

A number of other brokerages have also weighed in on LSTR. Truist Financial cut their price objective on Landstar System from $185.00 to $175.00 and set a “hold” rating on the stock in a research report on Wednesday, October 7th. Susquehanna boosted their target price on Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Raymond James Financial restated a “market perform” rating on shares of Landstar System in a report on Wednesday. Zacks Research lowered Landstar System from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Landstar System in a report on Friday, September 11th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Landstar System currently has an average rating of “Hold” and a consensus target price of $187.00.

Landstar System Price Performance

Shares of Landstar System stock opened at $142.70 on Wednesday. The company’s fifty day simple moving average is $170.04 and its two-hundred day simple moving average is $176.54. Landstar System has a 12-month low of $121.11 and a 12-month high of $228.46. The firm has a market cap of $4.81 billion, a PE ratio of 24.67 and a beta of 0.90. The company has a quick ratio of 1.82, a current ratio of 1.79 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.25). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Landstar System had a return on equity of 23.89% and a net margin of 3.03%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 earnings per share. As a group, equities analysts expect that Landstar System will post 5.80 EPS for the current year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 17th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 17th. Landstar System’s dividend payout ratio (DPR) is presently 45.60%.

Institutional Investors Weigh In On Landstar System

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Provenance Wealth Advisors LLC purchased a new stake in shares of Landstar System during the third quarter valued at $35,000. Next Level Wealth Planning LLC purchased a new position in Landstar System in the 3rd quarter worth about $121,000. Bridge City Capital LLC raised its position in Landstar System by 33.3% in the 3rd quarter. Bridge City Capital LLC now owns 47,819 shares of the transportation company’s stock worth $8,064,000 after buying an additional 11,952 shares during the last quarter. Parcion Private Wealth LLC raised its position in Landstar System by 13.4% in the 3rd quarter. Parcion Private Wealth LLC now owns 1,669 shares of the transportation company’s stock worth $281,000 after buying an additional 197 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Landstar System by 31.4% during the 3rd quarter. Park Avenue Securities LLC now owns 1,607 shares of the transportation company’s stock valued at $271,000 after acquiring an additional 384 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Landstar System

Here are the key news stories impacting Landstar System this week:

• Positive Sentiment: Freight pricing and volumes supported growth. Landstar’s third-quarter revenue increased approximately 25% year over year to $1.51 billion, while stronger truck pricing and higher freight volumes helped the company exceed revenue expectations. LSTR Q3 Earnings Beat Estimates on Strong Freight Pricing
• Neutral Sentiment: Analysts are reassessing fair value. Robert W. Baird, Wells Fargo and JPMorgan each lowered expectations or price targets for LSTR, while other coverage described the fair-value reduction as modest. The revisions indicate that analysts see improved freight conditions but remain cautious about profitability and the outlook. Baird Price Target Cut Wells Fargo Lowers Expectations JPMorgan Pessimistic Forecast
• Negative Sentiment: Profitability missed expectations. Landstar reported quarterly earnings of $1.42 per share, below the $1.67 consensus estimate. Higher claims and insurance costs are weighing on margins, raising concerns that revenue growth may not translate into comparable earnings growth. Higher Claims Costs
• Negative Sentiment: Legal and reputational risk has increased. SueWallSt announced a pending investigation into Landstar following the earnings-related selloff. While the notice does not establish wrongdoing, it adds uncertainty for shareholders. Landstar Investigation Notice

About Landstar System

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.