Landstar System, Inc. (NASDAQ:LSTR) Receives Average Recommendation of “Hold” from Analysts

Shares of Landstar System, Inc. (NASDAQ:LSTR) have received a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $196.00.

A number of brokerages recently weighed in on LSTR. Janney Montgomery Scott set a $182.00 price target on shares of Landstar System in a research note on Wednesday, July 29th. UBS Group reissued a “neutral” rating and set a $195.00 target price on shares of Landstar System in a report on Wednesday, July 29th. Wall Street Zen downgraded Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Zacks Research cut Landstar System from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 4th. Finally, Truist Financial increased their price objective on Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LSTR. BlackRock Inc. purchased a new position in Landstar System during the second quarter worth approximately $698,683,000. First Trust Advisors LP raised its holdings in shares of Landstar System by 19.1% during the 1st quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock worth $179,315,000 after acquiring an additional 179,294 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Landstar System by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the transportation company’s stock worth $109,506,000 after acquiring an additional 15,825 shares during the period. Reinhart Partners LLC. boosted its position in shares of Landstar System by 13.7% during the 4th quarter. Reinhart Partners LLC. now owns 661,078 shares of the transportation company’s stock valued at $94,999,000 after acquiring an additional 79,785 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Landstar System during the 2nd quarter valued at about $68,507,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Down 0.9%

Shares of NASDAQ:LSTR opened at $163.77 on Tuesday. Landstar System has a 1 year low of $120.01 and a 1 year high of $228.46. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 42.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82. The business’s 50 day moving average price is $180.91 and its 200-day moving average price is $184.60.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.05). The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Landstar System had a return on equity of 20.84% and a net margin of 2.64%.Landstar System’s revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. On average, equities research analysts forecast that Landstar System will post 5.84 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th were paid a $0.44 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 18th. Landstar System’s payout ratio is 45.60%.

About Landstar System

Landstar System, Inc is a transportation services company that provides integrated logistics solutions primarily through an asset-light network of independent freight agents and third-party capacity providers. The company’s operations connect shippers with transportation services without relying primarily on a company-owned fleet of trucks.

Landstar arranges a broad range of freight transportation, including truckload, less-than-truckload, expedited, heavy-haul and specialized shipments.