Landstar System (NASDAQ:LSTR) Rating Increased to Strong-Buy at Baird R W

Baird R W upgraded shares of Landstar System (NASDAQ:LSTR) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other research firms have also weighed in on LSTR. Stifel Nicolaus lowered their price objective on shares of Landstar System from $147.00 to $140.00 and set a “hold” rating on the stock in a research note on Wednesday, May 14th. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on Landstar System from $177.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Robert W. Baird assumed coverage on Landstar System in a report on Tuesday. They set an “outperform” rating and a $166.00 target price on the stock. Finally, Evercore ISI decreased their target price on Landstar System from $137.00 to $136.00 and set an “in-line” rating on the stock in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $151.50.

Landstar System Price Performance

NASDAQ:LSTR opened at $146.06 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. The stock’s 50-day simple moving average is $138.87 and its 200 day simple moving average is $151.63. The company has a market cap of $5.10 billion, a P/E ratio of 28.92 and a beta of 0.88. Landstar System has a 52-week low of $128.99 and a 52-week high of $196.86.

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

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were paid a $0.40 dividend. The ex-dividend date was Thursday, June 5th. This is an increase from Landstar System’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. Landstar System’s dividend payout ratio is 31.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alpine Bank Wealth Management acquired a new stake in Landstar System during the first quarter worth approximately $25,000. HM Payson & Co. acquired a new stake in shares of Landstar System during the 4th quarter worth $26,000. Colonial Trust Co SC grew its holdings in shares of Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock worth $32,000 after purchasing an additional 71 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock worth $45,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.