Landstar System (NASDAQ:LSTR) Price Target Raised to $150.00

Landstar System (NASDAQ:LSTR) had its price objective increased by Truist Financial from $130.00 to $150.00 in a report issued on Thursday morning, Marketbeat reports. The brokerage currently has a hold rating on the transportation company’s stock.

LSTR has been the subject of several other research reports. Stifel Nicolaus lifted their target price on shares of Landstar System from $140.00 to $147.00 and gave the company a “hold” rating in a report on Wednesday. TD Cowen raised their price target on Landstar System from $138.00 to $150.00 and gave the stock a “hold” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Landstar System in a report on Monday, December 29th. Morgan Stanley raised their target price on Landstar System from $133.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, December 8th. Finally, Susquehanna lifted their target price on Landstar System from $110.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $153.00.

Landstar System Stock Down 1.6%

Shares of LSTR opened at $153.55 on Thursday. The company’s 50-day moving average price is $139.49 and its 200 day moving average price is $134.14. Landstar System has a 12-month low of $119.32 and a 12-month high of $179.66. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a market cap of $5.27 billion, a P/E ratio of 39.17 and a beta of 0.84.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. On average, sell-side analysts forecast that Landstar System will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

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

Hedge Funds Weigh In On Landstar System

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its holdings in Landstar System by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after buying an additional 336 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after acquiring an additional 50,142 shares during the last quarter. Empowered Funds LLC raised its position in shares of Landstar System by 38.3% during the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after acquiring an additional 1,298 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Landstar System by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock worth $21,380,000 after acquiring an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

About Landstar System

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.