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

Shares of Landstar System, Inc. (NASDAQ:LSTR) have earned an average recommendation of “Reduce” from the fourteen brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and thirteen have issued a hold recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $156.92.

Several equities analysts have weighed in on the stock. TD Cowen lowered their price objective on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Jefferies Financial Group lowered their price target on Landstar System from $170.00 to $150.00 and set a “hold” rating on the stock in a report on Friday. Stifel Nicolaus dropped their price target on Landstar System from $162.00 to $147.00 and set a “hold” rating on the stock in a research report on Monday. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Monday. Finally, Truist Financial dropped their target price on Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd.

Hedge Funds Weigh In On Landstar System

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC grew its position in Landstar System by 16.1% in the fourth 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 in the 4th quarter valued at $63,816,000. Norges Bank bought a new stake in Landstar System in the fourth quarter worth $54,088,000. Reinhart Partners LLC. acquired a new position in Landstar System during the first quarter worth $42,887,000. Finally, Corient Private Wealth LLC raised its holdings 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 valued at $50,509,000 after buying an additional 271,417 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Trading Up 0.9 %

Shares of LSTR opened at $141.32 on Tuesday. The business’s 50-day moving average price is $151.52 and its 200 day moving average price is $169.76. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.94 billion, a P/E ratio of 25.60 and a beta of 0.88. Landstar System has a 1-year low of $128.99 and a 1-year high of $196.86.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. Analysts expect that Landstar System will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.02%. Landstar System’s payout ratio is 26.09%.

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.