Landstar System (NASDAQ:LSTR) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Landstar System (NASDAQ:LSTR) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other analysts have also issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Landstar System in a report on Wednesday, October 8th. Stifel Nicolaus cut their price objective on shares of Landstar System from $131.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, October 3rd. Barclays cut their price objective on shares of Landstar System from $145.00 to $135.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. TD Cowen cut their price objective on shares of Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a research report on Wednesday, July 30th. Finally, Susquehanna set a $123.00 price objective on shares of Landstar System and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $142.36.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $124.99 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. Landstar System has a 12 month low of $119.32 and a 12 month high of $196.86. The stock has a 50 day moving average of $128.27 and a 200-day moving average of $135.17. The company has a market capitalization of $4.33 billion, a P/E ratio of 26.20 and a beta of 0.82.

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

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, August 19th. Landstar System’s dividend payout ratio is currently 33.54%.

Institutional Trading of Landstar System

Institutional investors and hedge funds have recently modified their holdings of the business. Alpine Bank Wealth Management bought a new stake in shares of Landstar System during the 1st quarter worth $25,000. MAI Capital Management raised its position in Landstar System by 79.3% in the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 107 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 152 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in Landstar System by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 154 shares during the last quarter. 97.95% of the stock is currently 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.