Brokerages Set Landstar System, Inc. (NASDAQ:LSTR) Target Price at $150.38

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been given a consensus recommendation of “Hold” by the sixteen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $151.50.

LSTR has been the subject of a number of research analyst reports. Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Stifel Nicolaus lowered their target price on Landstar System from $147.00 to $140.00 and set a “hold” rating for the company in a report on Wednesday, May 14th. Truist Financial lowered their target price on Landstar System from $150.00 to $135.00 and set a “hold” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Robert W. Baird initiated coverage on Landstar System in a report on Tuesday. They set an “outperform” rating and a $166.00 target price for the company.

Landstar System Stock Performance

NASDAQ LSTR opened at $145.26 on Friday. The stock has a market cap of $5.08 billion, a PE ratio of 28.76 and a beta of 0.88. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.07. Landstar System has a twelve month low of $128.99 and a twelve month high of $196.86. The stock has a fifty day simple moving average of $138.58 and a 200-day simple moving average of $151.93.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.07). Landstar System had a net margin of 3.72% and a return on equity of 18.23%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business earned $1.32 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. Equities analysts anticipate that Landstar System will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Thursday, June 5th. This is a positive change from Landstar System’s previous quarterly dividend of $0.36. Landstar System’s dividend payout ratio (DPR) is 31.68%.

Institutional Investors Weigh In On Landstar System

Several hedge funds and other institutional investors have recently made changes to their positions in LSTR. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock worth $646,985,000 after acquiring an additional 521,695 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Landstar System during the 4th quarter worth about $63,816,000. Norges Bank acquired a new stake in shares of Landstar System during the 4th quarter worth about $54,088,000. Reinhart Partners LLC. acquired a new position in Landstar System during the first quarter worth approximately $42,887,000. Finally, Corient Private Wealth LLC increased its position in Landstar System by 1,207.3% during the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock worth $50,509,000 after buying an additional 271,417 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.