Landstar System (NASDAQ:LSTR) Lowered to Market Perform Rating by Raymond James

Raymond James downgraded shares of Landstar System (NASDAQ:LSTR) from an outperform rating to a market perform rating in a research note issued to investors on Friday, Marketbeat.com reports.

A number of other analysts have also commented on the company. Stifel Nicolaus decreased their price objective on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Susquehanna lowered their price target on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. UBS Group raised their price objective on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their target price on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Finally, Stephens dropped their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, Landstar System has an average rating of “Hold” and a consensus price target of $174.25.

Landstar System Stock Down 2.4 %

Landstar System stock traded down $4.59 during mid-day trading on Friday, reaching $182.82. The stock had a trading volume of 171,432 shares, compared to its average volume of 256,973. The firm has a market capitalization of $6.46 billion, a PE ratio of 31.36 and a beta of 0.81. Landstar System has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The stock’s 50-day simple moving average is $183.98 and its 200-day simple moving average is $183.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $1.71 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that Landstar System will post 5.57 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.79%. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the sale, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Landstar System

Several large investors have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV lifted its holdings in Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after purchasing an additional 74 shares in the last quarter. Quest Partners LLC bought a new stake in Landstar System during the 2nd quarter worth approximately $73,000. Mather Group LLC. raised its position in shares of Landstar System by 183.5% in the second quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock worth $76,000 after buying an additional 255 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after buying an additional 358 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Landstar System by 58.1% during the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after buying an additional 183 shares in 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 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.