Barclays Cuts Landstar System (NASDAQ:LSTR) Price Target to $135.00

Landstar System (NASDAQ:LSTR) had its price objective cut by Barclays from $145.00 to $135.00 in a research note published on Thursday morning, MarketBeat Ratings reports. They currently have an equal weight rating on the transportation company’s stock.

Other equities research analysts have also issued research reports about the stock. Baird R W upgraded shares of Landstar System to a “strong-buy” rating in a research note on Tuesday, July 1st. Wall Street Zen raised Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. UBS Group lowered their target price on Landstar System from $154.00 to $149.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Zacks Research upgraded Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Evercore ISI decreased their price objective on Landstar System from $132.00 to $125.00 and set an “in-line” rating for the company in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus price target of $143.67.

Landstar System Trading Up 1.2%

Shares of Landstar System stock opened at $122.63 on Thursday. The firm has a market cap of $4.25 billion, a PE ratio of 25.71 and a beta of 0.82. Landstar System has a 1 year low of $119.32 and a 1 year high of $196.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a fifty day moving average price of $129.18 and a 200-day moving average price of $136.21.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts anticipate that Landstar System will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System’s payout ratio is currently 33.54%.

Institutional Trading of Landstar System

A number of hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in Landstar System by 8.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock worth $613,372,000 after acquiring an additional 319,101 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Landstar System by 2.1% during the first quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company’s stock worth $248,567,000 after purchasing an additional 33,399 shares during the last quarter. Boston Partners boosted its holdings in shares of Landstar System by 14.2% in the 2nd quarter. Boston Partners now owns 1,419,718 shares of the transportation company’s stock worth $197,310,000 after purchasing an additional 176,601 shares in the last quarter. Northern Trust Corp increased its position in shares of Landstar System by 9.1% during the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock valued at $110,285,000 after purchasing an additional 61,477 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Landstar System by 6.8% during the 2nd quarter. First Trust Advisors LP now owns 731,615 shares of the transportation company’s stock valued at $101,709,000 after buying an additional 46,547 shares in the last quarter. 97.95% of the stock is owned by institutional investors.

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.