Landstar System Upgraded by Zacks to Outperform (LSTR)
Landstar System (NASDAQ:LSTR) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Thursday. The firm currently has a $69.40 target price on the stock. Zacks‘s price target suggests a potential upside of 4.94% from the stock’s previous close.
LSTR has been the subject of a number of other recent research reports. Analysts at BB&T Corp. upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Tuesday. They now have a $85.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Landstar System in a research note on Thursday, July 24th. They now have a $70.00 price target on the stock, up previously from $63.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Landstar System in a research note on Thursday, July 24th. They now have a $71.00 price target on the stock, up previously from $70.00. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $72.05.
Shares of Landstar System (NASDAQ:LSTR) traded down 1.74% on Thursday, hitting $66.13. The stock had a trading volume of 366,549 shares. Landstar System has a 52-week low of $53.00 and a 52-week high of $73.95. The stock’s 50-day moving average is $64.66 and its 200-day moving average is $61.39. The company has a market cap of $2.955 billion and a price-to-earnings ratio of 20.16.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $814.40 million for the quarter, compared to the consensus estimate of $777.55 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, analysts predict that Landstar System will post $2.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Monday, August 11th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Thursday, August 7th. This is a boost from Landstar System’s previous quarterly dividend of $0.06.
Landstar System, Inc (NASDAQ:LSTR) is a non-asset based provider of freight transportation services and supply chain solutions.
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