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

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been given a consensus rating of “Reduce” by the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $174.25.

A number of analysts have recently commented on the stock. Susquehanna reduced their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Evercore ISI cut their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Finally, TD Cowen cut their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th.

Landstar System Trading Up 1.5 %

NASDAQ LSTR opened at $172.93 on Friday. Landstar System has a twelve month low of $165.39 and a twelve month high of $200.43. The firm has a market capitalization of $6.11 billion, a PE ratio of 29.66 and a beta of 0.83. The stock’s 50 day moving average is $181.57 and its 200 day moving average is $183.30. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the firm earned $1.71 EPS. Landstar System’s revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts forecast that Landstar System will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $2.00 per share. This is a boost from Landstar System’s previous special dividend of $1.50. The ex-dividend date of this dividend is Tuesday, January 7th. Landstar System’s dividend payout ratio is presently 24.70%.

Insider Activity

In other news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. The trade was a 6.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Landstar System

A number of large investors have recently made changes to their positions in the business. State Street Corp grew its position in Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after purchasing an additional 15,328 shares during the last quarter. Geode Capital Management LLC increased its holdings in Landstar System by 5.1% in the third quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock valued at $153,685,000 after buying an additional 39,223 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Landstar System by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after purchasing an additional 37,020 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Landstar System by 10.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock worth $81,201,000 after acquiring an additional 41,758 shares in the last quarter. Finally, Copeland Capital Management LLC raised its position in shares of Landstar System by 0.9% during the 3rd quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock worth $73,308,000 after purchasing an additional 3,630 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.