TD Cowen Cuts Landstar System (NASDAQ:LSTR) Price Target to $127.00

Landstar System (NASDAQ:LSTR) had its target price decreased by TD Cowen from $135.00 to $127.00 in a report released on Wednesday morning, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the transportation company’s stock.

LSTR has been the topic of several other research reports. Evercore ISI decreased their price objective on Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 30th. Susquehanna set a $123.00 target price on Landstar System and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Wall Street Zen cut Landstar System from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Baird R W upgraded Landstar System to a “strong-buy” rating in a research report on Tuesday, July 1st. Finally, Robert W. Baird started coverage on Landstar System in a research report on Tuesday, July 1st. They set an “outperform” rating and a $166.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Landstar System has an average rating of “Hold” and an average target price of $134.60.

Landstar System Stock Up 2.5%

NASDAQ LSTR opened at $128.43 on Wednesday. The stock’s 50-day moving average price is $128.10 and its 200-day moving average price is $134.14. The company has a quick ratio of 2.00, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. Landstar System has a 52 week low of $119.32 and a 52 week high of $196.86. The company has a market capitalization of $4.45 billion, a P/E ratio of 32.76 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business earned $1.41 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that Landstar System will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, November 18th. Landstar System’s dividend payout ratio (DPR) is currently 40.82%.

Hedge Funds Weigh In On Landstar System

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC grew its holdings in Landstar System by 6.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,514 shares of the transportation company’s stock valued at $676,000 after buying an additional 320 shares in the last quarter. Parthenon LLC boosted its holdings in shares of Landstar System by 0.7% in the 3rd quarter. Parthenon LLC now owns 67,877 shares of the transportation company’s stock worth $8,319,000 after purchasing an additional 485 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Landstar System by 48.2% in the 3rd quarter. Retirement Systems of Alabama now owns 63,299 shares of the transportation company’s stock worth $7,758,000 after purchasing an additional 20,586 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of Landstar System by 3.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,175 shares of the transportation company’s stock worth $512,000 after purchasing an additional 126 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Landstar System in the 3rd quarter worth approximately $3,194,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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.