Landstar System, Inc. (NASDAQ:LSTR) Stock Has Consensus Target Price of $182.33 According to Brokerages

Landstar System, Inc. (NASDAQ:LSTR) has been assigned an average recommendation of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $181.33.

Several research analysts recently weighed in on LSTR shares. Wells Fargo & Company decreased their price objective on shares of Landstar System from $225.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. TD Cowen cut their price target on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a research note on Tuesday, July 28th. UBS Group cut their price target on shares of Landstar System from $195.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. Evercore set a $182.00 price target on shares of Landstar System in a report on Wednesday, October 28th. Finally, Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research report on Tuesday, August 4th.

Landstar System Trading Up 1.1%

Shares of LSTR opened at $149.68 on Wednesday. Landstar System has a fifty-two week low of $121.11 and a fifty-two week high of $228.46. The business has a 50-day moving average of $163.69 and a 200 day moving average of $176.21. The firm has a market cap of $5.05 billion, a P/E ratio of 25.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 1.79.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, October 27th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.25). Landstar System had a return on equity of 23.89% and a net margin of 3.03%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company posted $1.22 EPS. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, research analysts forecast that Landstar System will post 6.02 EPS for the current year.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 17th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 17th. Landstar System’s dividend payout ratio is currently 37.29%.

Insider Buying and Selling

In other news, CEO Frank A. Lonegro purchased 5,000 shares of the stock in a transaction on Friday, October 30th. The shares were acquired at an average price of $142.92 per share, for a total transaction of $714,600.00. Following the completion of the transaction, the chief executive officer directly owned 28,110 shares of the company’s stock, valued at approximately $4,017,481.20. This trade represents a 21.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Landstar System

Institutional investors have recently modified their holdings of the company. Walleye Capital LLC bought a new position in Landstar System during the second quarter valued at approximately $21,043,000. Bank of America Corp DE grew its position in Landstar System by 13.4% in the 1st quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock worth $40,095,000 after purchasing an additional 29,595 shares during the period. Assenagon Asset Management S.A. bought a new stake in Landstar System in the 2nd quarter worth approximately $6,064,000. Engineers Gate Manager LP bought a new stake in Landstar System in the 2nd quarter worth approximately $1,485,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Landstar System during the 3rd quarter valued at $2,054,000. 97.95% of the stock is currently owned by institutional investors.

About Landstar System

Landstar System, Inc. is a transportation and logistics company that arranges freight movement through an asset-light network of independent agents, business capacity owners, and third-party transportation providers. Rather than relying primarily on a company-owned fleet, Landstar connects customers with available transportation capacity and coordinates shipments through its network. The company offers truckload services, including van, flatbed, and specialized transportation, as well as less-than-truckload, expedited, and intermodal shipping.