Raymond James Downgrades Landstar System (NASDAQ:LSTR) to Market Perform

Raymond James cut shares of Landstar System (NASDAQ:LSTR) from an outperform rating to a market perform rating in a report issued on Friday morning, MarketBeat.com reports.

LSTR has been the subject of several other reports. UBS Group lifted their price objective on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Evercore ISI reduced their price target on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Susquehanna reduced their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $174.25.

Landstar System Price Performance

Landstar System stock opened at $183.12 on Friday. The stock has a market cap of $6.47 billion, a P/E ratio of 31.63 and a beta of 0.81. The company has a fifty day simple moving average of $183.98 and a 200-day simple moving average of $183.52. Landstar System has a 12-month low of $165.39 and a 12-month high of $201.40. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. Landstar System’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.71 earnings per share. Equities analysts expect that Landstar System will post 5.57 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. Landstar System’s dividend payout ratio is presently 24.70%.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Landstar System by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after acquiring an additional 25,387 shares during the period. Victory Capital Management Inc. increased its stake in shares of Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after acquiring an additional 99,461 shares during the period. Boston Partners increased its stake in shares of Landstar System by 1.0% during the first quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after acquiring an additional 15,424 shares during the period. State Street Corp increased its stake in shares of Landstar System by 1.4% during the third quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after acquiring an additional 15,328 shares during the period. Finally, Geode Capital Management LLC grew its position in Landstar System by 5.1% during the third quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock worth $153,685,000 after buying an additional 39,223 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Company Profile

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.