Landstar System (NASDAQ:LSTR) Sets New 52-Week Low After Analyst Downgrade

Landstar System, Inc. (NASDAQ:LSTR) reached a new 52-week low during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $160.00 to $150.00. Truist Financial currently has a hold rating on the stock. Landstar System traded as low as $141.80 and last traded at $142.05, with a volume of 187000 shares. The stock had previously closed at $151.93.

LSTR has been the topic of a number of other reports. Susquehanna decreased their price target on Landstar System from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 26th. TD Cowen lowered their price target on Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lowered their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus price target of $163.18.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. FMR LLC increased its stake in Landstar System by 8.6% during the third quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock worth $30,639,000 after acquiring an additional 12,894 shares during the last quarter. State Street Corp increased its position in Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after purchasing an additional 15,328 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Landstar System by 22.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company’s stock valued at $2,935,000 after buying an additional 3,150 shares during the period. National Bank of Canada FI lifted its position in Landstar System by 346.8% during the third quarter. National Bank of Canada FI now owns 6,179 shares of the transportation company’s stock valued at $1,167,000 after buying an additional 4,796 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake 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 owned by hedge funds and other institutional investors.

Landstar System Stock Down 6.3 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 25.80 and a beta of 0.82. The firm’s 50-day moving average price is $157.89 and its 200-day moving average price is $172.99.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Sell-side analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.01%. Landstar System’s dividend payout ratio is currently 26.09%.

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.