Landstar System (NASDAQ:LSTR) Trading Down 4.1% on Disappointing Earnings

Landstar System, Inc. (NASDAQ:LSTR) shares dropped 4.1% on Thursday following a weaker than expected earnings announcement. The company traded as low as $164.99 and last traded at $165.88. Approximately 60,739 shares traded hands during trading, a decline of 79% from the average daily volume of 296,100 shares. The stock had previously closed at $172.92.

The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a return on equity of 19.37% and a net margin of 4.07%.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a yield of 0.87%. Landstar System’s payout ratio is 26.09%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LSTR. Evercore ISI reduced their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price target on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a report on Thursday. Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Stephens cut their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Finally, UBS Group lifted their target price on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and an average price target of $171.27.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Landstar System

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in Landstar System in the fourth quarter worth approximately $25,000. Trust Co. of Vermont purchased a new position in Landstar System in the fourth quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. raised its stake in Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after buying an additional 358 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Landstar System by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock worth $107,000 after buying an additional 70 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Landstar System during the 2nd quarter worth about $131,000. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Down 1.4 %

The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5.82 billion, a PE ratio of 29.83 and a beta of 0.83. The business has a fifty day moving average price of $177.10 and a 200 day moving average price of $182.02.

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.