Landstar System (NASDAQ:LSTR) Stock Price Down 4.1% After Earnings Miss

Landstar System, Inc. (NASDAQ:LSTR) shares traded down 4.1% during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $164.99 and last traded at $165.88. 60,739 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 296,100 shares. The stock had previously closed at $172.92.

The transportation company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%.

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. Landstar System’s dividend payout ratio is presently 24.70%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. The Goldman Sachs Group decreased their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. TD Cowen decreased their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Finally, UBS Group boosted their target price on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $171.27.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LSTR. Creative Planning boosted its position in Landstar System by 18.2% during the second quarter. Creative Planning now owns 4,285 shares of the transportation company’s stock valued at $790,000 after purchasing an additional 659 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Landstar System in the second quarter valued at approximately $854,000. Sanctuary Advisors LLC bought a new stake in Landstar System in the second quarter valued at approximately $946,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Landstar System in the second quarter valued at approximately $131,000. Finally, SG Americas Securities LLC raised its stake in Landstar System by 119.0% in the third quarter. SG Americas Securities LLC now owns 3,528 shares of the transportation company’s stock valued at $666,000 after buying an additional 1,917 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Down 3.5 %

The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $177.67 and a 200-day simple moving average of $182.26. The stock has a market cap of $5.90 billion, a P/E ratio of 28.63 and a beta of 0.83.

Landstar System Company Profile

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.