Landstar System (NASDAQ:LSTR) Shares Gap Down – Here’s Why

Landstar System, Inc. (NASDAQ:LSTR) gapped down before the market opened on Thursday . The stock had previously closed at $157.06, but opened at $151.26. Landstar System shares last traded at $158.33, with a volume of 133,180 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on LSTR. TD Cowen restated a “hold” rating on shares of Landstar System in a report on Friday, January 9th. Robert W. Baird set a $159.00 target price on Landstar System in a research report on Wednesday, January 7th. Zacks Research upgraded Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Wall Street Zen raised Landstar System from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Truist Financial raised their price objective on Landstar System from $130.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Landstar System currently has an average rating of “Hold” and a consensus target price of $153.00.

Landstar System Trading Down 2.5%

The stock has a 50-day moving average of $142.07 and a two-hundred day moving average of $134.54. The company has a market cap of $5.29 billion, a P/E ratio of 39.27 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.01.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th were paid a dividend of $2.00 per share. This represents a yield of 134.0%. The ex-dividend date was Tuesday, January 6th. Landstar System’s dividend payout ratio (DPR) is currently 40.82%.

Institutional Investors Weigh In On Landstar System

A number of institutional investors have recently made changes to their positions in the company. Vestmark Advisory Solutions Inc. raised its position in shares of Landstar System by 0.4% in the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock valued at $2,523,000 after buying an additional 78 shares during the last quarter. Cardinal Capital Management grew its stake in Landstar System by 0.4% during the 3rd quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock valued at $2,981,000 after acquiring an additional 90 shares in the last quarter. Huntington National Bank grew its stake in Landstar System by 9.7% during the 3rd quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock valued at $138,000 after acquiring an additional 100 shares in the last quarter. Eukles Asset Management raised its holdings in Landstar System by 1.1% in the 2nd quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock valued at $1,398,000 after acquiring an additional 105 shares during the last quarter. Finally, MAI Capital Management lifted its stake in Landstar System by 79.3% in the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.