Landstar System (NASDAQ:LSTR) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Landstar System (NASDAQ:LSTR) from a hold rating to a sell rating in a report issued on Sunday morning.

LSTR has been the subject of several other reports. Zacks Research downgraded shares of Landstar System from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 28th. Barclays dropped their target price on Landstar System from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Truist Financial cut their price target on Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. TD Cowen decreased their price objective on Landstar System from $135.00 to $127.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $134.60.

Landstar System Trading Down 0.1%

Shares of LSTR opened at $129.95 on Friday. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $192.33. The business has a 50-day moving average of $127.57 and a 200 day moving average of $133.68. The firm has a market cap of $4.46 billion, a P/E ratio of 33.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.00 and a current ratio of 2.01.

Landstar System (NASDAQ:LSTR) last released 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). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a net margin of 2.87% and a return on equity of 17.24%. Landstar System’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. As a group, research analysts forecast that Landstar System will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The firm 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 $0.40 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. MAI Capital Management grew its stake in shares of Landstar System by 79.3% during the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after buying an additional 107 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Landstar System by 118.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock worth $39,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. increased its stake in Landstar System by 335.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock worth $36,000 after purchasing an additional 225 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Landstar System by 7,650.0% in the second quarter. Hantz Financial Services Inc. now owns 310 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 306 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

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.