Landstar System (NASDAQ:LSTR) Downgraded to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of Landstar System (NASDAQ:LSTR) from an outperform rating to a peer perform rating in a research report sent to investors on Thursday, Marketbeat reports.

Several other equities research analysts have also recently issued reports on the stock. Susquehanna decreased their price objective 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, April 26th. Morgan Stanley lowered their price objective on Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a research report on Monday. Evercore ISI increased their price objective on Landstar System from $161.00 to $173.00 and gave the company an in-line rating in a report on Tuesday, June 25th. Stifel Nicolaus decreased their target price on Landstar System from $166.00 to $164.00 and set a hold rating for the company in a research note on Monday, April 29th. Finally, Benchmark reiterated a hold rating on shares of Landstar System in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $182.55.

Landstar System Price Performance

LSTR stock opened at $178.57 on Thursday. Landstar System has a 1 year low of $161.13 and a 1 year high of $208.62. The firm has a market capitalization of $6.39 billion, a P/E ratio of 27.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The business’s 50-day moving average is $181.30 and its two-hundred day moving average is $185.39.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Analysts anticipate that Landstar System will post 6.29 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Wednesday, May 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.32 annualized dividend and a yield of 0.74%. Landstar System’s dividend payout ratio (DPR) is 20.31%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Diversified Trust Co purchased a new position in shares of Landstar System during the third quarter worth about $460,000. American Century Companies Inc. lifted its holdings in shares of Landstar System by 22.4% during the third quarter. American Century Companies Inc. now owns 46,517 shares of the transportation company’s stock worth $8,231,000 after purchasing an additional 8,525 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Landstar System by 69.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,554 shares of the transportation company’s stock worth $452,000 after purchasing an additional 1,050 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in Landstar System by 92.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,369 shares of the transportation company’s stock valued at $2,189,000 after buying an additional 5,928 shares during the last quarter. Finally, FCF Advisors LLC increased its stake in Landstar System by 81.2% in the 4th quarter. FCF Advisors LLC now owns 6,211 shares of the transportation company’s stock valued at $1,203,000 after buying an additional 2,783 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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.