Landstar System (NASDAQ:LSTR) Stock Gets Price Target Reduction from Susquehanna

Landstar System (NASDAQ:LSTR) had its price target decreased by Susquehanna from $190.00 to $160.00 in a research note issued to investors on Monday morning,Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

LSTR has been the topic of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of Landstar System in a research note on Friday, September 11th. Morgan Stanley downgraded shares of Landstar System from an “equal weight” rating to an “underweight” rating and set a $145.00 price objective for the company. in a report on Monday, July 6th. Stephens reduced their price target on Landstar System from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Evercore set a $182.00 price objective on Landstar System in a research report on Wednesday, October 28th. Finally, UBS Group reduced their target price on Landstar System from $195.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $182.33.

Landstar System Stock Up 0.1%

Landstar System stock opened at $151.25 on Monday. Landstar System has a fifty-two week low of $121.11 and a fifty-two week high of $228.46. The firm’s 50-day simple moving average is $168.14 and its 200 day simple moving average is $176.47. The stock has a market cap of $5.10 billion, a PE ratio of 26.36 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 released its earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.25). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The business’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 earnings per share. Research analysts predict that Landstar System will post 5.75 EPS for the current fiscal year.

Landstar System Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Frank A. Lonegro purchased 5,000 shares of the stock in a transaction dated Friday, October 30th. The shares were purchased at an average cost of $142.92 per share, with a total value of $714,600.00. Following the acquisition, the chief executive officer directly owned 28,110 shares of the company’s stock, valued at $4,017,481.20. This represents a 21.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Landstar System in the second quarter valued at about $698,683,000. Bank of New York Mellon Corp acquired a new stake in shares of Landstar System during the second quarter worth about $68,507,000. Bank of America Corp DE acquired a new stake in shares of Landstar System during the second quarter worth about $51,340,000. Corient Private Wealth LP acquired a new stake in shares of Landstar System during the second quarter worth about $44,949,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Landstar System during the second quarter worth about $44,195,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.