Landstar System (NASDAQ:LSTR) Given New $158.00 Price Target at The Goldman Sachs Group

Landstar System (NASDAQ:LSTR) had its price objective reduced by The Goldman Sachs Group from $165.00 to $158.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a sell rating on the transportation company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Landstar System from $164.00 to $160.00 and set a hold rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Landstar System from $182.00 to $188.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. TD Cowen increased their price objective on shares of Landstar System from $171.00 to $176.00 and gave the company a hold rating in a report on Wednesday, July 31st. Evercore ISI reduced their target price on Landstar System from $167.00 to $165.00 and set an in-line rating on the stock in a report on Thursday, October 3rd. Finally, Wolfe Research lowered Landstar System from an outperform rating to a peer perform rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $177.25.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $185.54 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. Landstar System has a 1 year low of $161.13 and a 1 year high of $201.40. The firm has a fifty day moving average price of $184.34 and a 200-day moving average price of $182.66. The stock has a market cap of $6.64 billion, a PE ratio of 28.54 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period last year, the firm earned $1.85 earnings per share. Equities analysts anticipate that Landstar System will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.78%. The ex-dividend date was Tuesday, August 20th. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio is presently 22.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after acquiring an additional 74 shares during the last quarter. Mather Group LLC. bought a new stake in Landstar System in the first quarter worth about $27,000. Quest Partners LLC purchased a new position in shares of Landstar System during the second quarter valued at approximately $73,000. Fidelis Capital Partners LLC purchased a new stake in shares of Landstar System in the first quarter worth approximately $86,000. Finally, GAMMA Investing LLC raised its holdings in shares of Landstar System by 58.1% in 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 during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

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.