Landstar System, Inc. (LSTR) Given “Hold” Rating at Cowen and Company
Cowen and Company reiterated their hold rating on shares of Landstar System, Inc. (NASDAQ:LSTR) in a research note published on Friday. They currently have a $97.00 price objective on the transportation company’s stock.
Several other analysts have also recently issued reports on LSTR. KeyCorp reissued a buy rating and issued a $110.00 target price on shares of Landstar System in a research note on Tuesday, October 3rd. Morgan Stanley raised their target price on Landstar System from $66.00 to $68.00 and gave the stock an underweight rating in a research note on Monday, August 7th. Buckingham Research assumed coverage on shares of Landstar System in a report on Friday, October 20th. They issued a neutral rating and a $103.00 price objective for the company. Zacks Investment Research upgraded shares of Landstar System from a hold rating to a buy rating and set a $111.00 price objective for the company in a report on Tuesday, October 10th. Finally, Stifel Nicolaus upgraded shares of Landstar System from a hold rating to a buy rating and raised their price objective for the stock from $87.00 to $95.00 in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Landstar System currently has a consensus rating of Hold and a consensus price target of $95.50.
Shares of Landstar System (NASDAQ LSTR) opened at 98.40 on Friday. The company has a market capitalization of $4.13 billion, a PE ratio of 28.42 and a beta of 0.76. The stock’s 50 day moving average price is $98.22 and its 200-day moving average price is $88.76. Landstar System has a 52-week low of $70.65 and a 52-week high of $102.55.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.05. The company had revenue of $943.40 million for the quarter, compared to analysts’ expectations of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. Landstar System’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. On average, analysts expect that Landstar System will post $3.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 14th will be issued a $0.10 dividend. The ex-dividend date is Monday, November 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. Landstar System’s payout ratio is currently 11.08%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Landstar System by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock worth $524,000 after acquiring an additional 17 shares during the last quarter. Capstone Asset Management Co. grew its position in Landstar System by 0.4% in the 2nd quarter. Capstone Asset Management Co. now owns 4,531 shares of the transportation company’s stock worth $388,000 after purchasing an additional 20 shares during the period. BB&T Corp grew its position in Landstar System by 1.3% in the 2nd quarter. BB&T Corp now owns 3,033 shares of the transportation company’s stock worth $260,000 after purchasing an additional 39 shares during the period. Oppenheimer & Co. Inc. grew its position in Landstar System by 0.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,770 shares of the transportation company’s stock worth $751,000 after purchasing an additional 40 shares during the period. Finally, IFP Advisors Inc grew its position in Landstar System by 2.9% in the 2nd quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock worth $141,000 after purchasing an additional 47 shares during the period. Institutional investors own 97.36% of the company’s stock.
About Landstar System
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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