BidaskClub Upgrades Landstar System, Inc. (LSTR) to Hold
Landstar System, Inc. (NASDAQ:LSTR) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
A number of other equities research analysts have also recently commented on LSTR. Zacks Investment Research cut Landstar System from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Credit Suisse Group reissued a “neutral” rating and issued a $83.00 target price (up from $82.00) on shares of Landstar System in a research note on Monday, March 6th. Cowen and Company increased their target price on Landstar System from $76.00 to $82.00 and gave the stock a “market perform” rating in a research note on Thursday, April 27th. Finally, Stifel Nicolaus increased their target price on Landstar System from $81.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $85.33.
Landstar System (LSTR) traded up 0.98% during trading on Tuesday, reaching $87.25. 279,751 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $84.07 and a 200-day moving average of $85.15. Landstar System has a 12 month low of $64.18 and a 12 month high of $90.80. The stock has a market cap of $3.66 billion, a PE ratio of 26.19 and a beta of 0.73.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, April 26th. The transportation company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Landstar System had a return on equity of 26.51% and a net margin of 4.34%. The firm had revenue of $780.90 million for the quarter, compared to analysts’ expectations of $757.56 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Landstar System will post $3.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Thursday, May 11th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $0.36 annualized dividend and a dividend yield of 0.41%. Landstar System’s dividend payout ratio (DPR) is presently 10.81%.
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In related news, CFO L Kevin Stout sold 5,448 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $85.65, for a total transaction of $466,621.20. Following the sale, the chief financial officer now directly owns 30,397 shares of the company’s stock, valued at $2,603,503.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in Landstar System by 87.2% in the fourth quarter. Renaissance Technologies LLC now owns 123,640 shares of the transportation company’s stock valued at $10,546,000 after buying an additional 57,600 shares during the period. Shelton Capital Management acquired a new stake in Landstar System during the fourth quarter valued at approximately $272,000. Pacad Investment Ltd. boosted its stake in Landstar System by 272.1% in the fourth quarter. Pacad Investment Ltd. now owns 1,600 shares of the transportation company’s stock valued at $136,000 after buying an additional 1,170 shares during the period. Bayesian Capital Management LP acquired a new stake in Landstar System during the fourth quarter valued at approximately $711,000. Finally, Marshall Wace LLP boosted its stake in Landstar System by 289.1% in the fourth quarter. Marshall Wace LLP now owns 236,000 shares of the transportation company’s stock valued at $20,131,000 after buying an additional 175,351 shares during the period. 97.94% of the stock is currently owned by institutional investors.
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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