Landstar System (NASDAQ:LSTR) Price Target Raised to $176.00 at TD Cowen

Landstar System (NASDAQ:LSTR) had its price objective boosted by TD Cowen from $171.00 to $176.00 in a research note published on Wednesday morning, MarketBeat.com reports. They currently have a hold rating on the transportation company’s stock.

A number of other research analysts also recently commented on LSTR. Evercore ISI increased their target price on shares of Landstar System from $161.00 to $173.00 and gave the company an in-line rating in a research report on Tuesday, June 25th. Morgan Stanley reduced their target price on Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a report on Monday, July 8th. Susquehanna dropped their price target on Landstar System from $165.00 to $160.00 and set a neutral rating on the stock in a research note on Friday, April 26th. Stifel Nicolaus reduced their price objective on Landstar System from $166.00 to $164.00 and set a hold rating for the company in a research note on Monday, April 29th. Finally, Benchmark reaffirmed a hold rating on shares of Landstar System in a report on Friday, April 26th. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Landstar System currently has an average rating of Hold and an average price target of $179.73.

Landstar System Stock Performance

NASDAQ:LSTR opened at $184.59 on Wednesday. Landstar System has a 12 month low of $161.13 and a 12 month high of $203.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.22. The firm has a market capitalization of $6.54 billion, a PE ratio of 28.40 and a beta of 0.80. The business’s fifty day moving average price is $182.84 and its 200 day moving average price is $184.85.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.85 EPS. On average, sell-side analysts anticipate that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.78%. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 20th. Landstar System’s payout ratio is 20.31%.

Institutional Investors Weigh In On Landstar System

A number of hedge funds have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after buying an additional 74 shares during the period. Mather Group LLC. acquired a new stake in Landstar System in the first quarter valued at $27,000. SRS Capital Advisors Inc. boosted its position in shares of Landstar System by 209.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 192 shares of the transportation company’s stock worth $37,000 after purchasing an additional 130 shares in the last quarter. Montag A & Associates Inc. acquired a new position in shares of Landstar System during the 4th quarter worth $48,000. Finally, GAMMA Investing LLC purchased a new position in shares of Landstar System in the 4th quarter valued at about $58,000. 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.