Landstar System (LSTR) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Landstar System (NASDAQ:LSTR) from a buy rating to a hold rating in a report released on Wednesday.
According to Zacks, “Landstar System, Inc. ( LSTR ) is an asset-light provider of integrated transportation management solutions worldwide. The company delivers safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity owners and employees. Landstar System transports a variety of freight, including iron and steel, automotive products, paper, lumber, chemicals, foodstuffs, and military hardware. All Landstar transportation services companies are certified to ISO 9001:2008 quality management system standards and RC14001:2013 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. “
Several other research analysts also recently commented on the company. BidaskClub raised Landstar System from a buy rating to a strong-buy rating in a research note on Tuesday, December 5th. Credit Suisse Group reaffirmed a neutral rating and issued a $97.00 target price (up from $84.00) on shares of Landstar System in a research note on Tuesday, October 31st. Buckingham Research raised their target price on Landstar System from $103.00 to $106.00 and gave the stock a neutral rating in a research note on Friday, October 27th. Wells Fargo & Co raised their target price on Landstar System from $83.00 to $98.00 and gave the stock a market perform rating in a research note on Friday, October 27th. Finally, Cowen reaffirmed a hold rating and issued a $97.00 target price on shares of Landstar System in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Landstar System currently has an average rating of Hold and an average target price of $98.73.
Landstar System (NASDAQ LSTR) traded up $0.85 during midday trading on Wednesday, reaching $104.70. The company had a trading volume of 180,862 shares, compared to its average volume of 202,797. Landstar System has a 1 year low of $80.00 and a 1 year high of $107.60. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4,393.84, a P/E ratio of 29.00, a P/E/G ratio of 1.85 and a beta of 0.81.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The firm had revenue of $943.40 million during the quarter, compared to the consensus estimate of $895.31 million. During the same period in the prior year, the company earned $0.86 EPS. The firm’s revenue was up 19.7% compared to the same quarter last year. research analysts predict that Landstar System will post 3.69 EPS for the current fiscal year.
Landstar System announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a special dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Landstar System’s previous special dividend of $1.00. This represents a dividend yield of 0.39%. Landstar System’s dividend payout ratio (DPR) is 11.08%.
In other news, CFO L Kevin Stout sold 5,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $99.00, for a total transaction of $495,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael K. Kneller sold 10,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the transaction, the vice president now owns 22,153 shares of the company’s stock, valued at $2,193,147. The disclosure for this sale can be found here. Insiders sold a total of 40,805 shares of company stock valued at $4,028,128 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LSTR. Advisor Group Inc. grew its holdings in shares of Landstar System by 64.8% during the 2nd quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock worth $130,000 after purchasing an additional 599 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Landstar System by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock worth $156,000 after purchasing an additional 224 shares during the period. Zions Bancorporation purchased a new position in shares of Landstar System during the 3rd quarter worth $167,000. PNC Financial Services Group Inc. grew its holdings in shares of Landstar System by 22.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock worth $171,000 after purchasing an additional 373 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Landstar System during the 2nd quarter worth $202,000. Institutional investors and hedge funds own 97.93% of the company’s stock.
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Landstar System Company Profile
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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