Raymond James Downgrades Landstar System (NASDAQ:LSTR) to Market Perform

Raymond James lowered shares of Landstar System (NASDAQ:LSTR) from an outperform rating to a market perform rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Several other brokerages also recently issued reports on LSTR. Stifel Nicolaus reduced their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. The Goldman Sachs Group reduced their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stephens reduced their price objective on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Finally, UBS Group upped their price objective on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $174.25.

Landstar System Trading Up 0.2 %

Shares of LSTR opened at $183.12 on Friday. 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’s 50-day moving average is $183.98 and its two-hundred day moving average is $183.52. Landstar System has a twelve month low of $165.39 and a twelve month high of $201.40. The firm has a market capitalization of $6.47 billion, a P/E ratio of 31.63 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, research analysts predict that Landstar System will post 5.57 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio is currently 24.70%.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Landstar System

A number of large investors have recently bought and sold shares of LSTR. ING Groep NV acquired a new stake in shares of Landstar System in the third quarter worth $1,228,000. Vanguard Group Inc. increased its position in shares of Landstar System by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after acquiring an additional 25,387 shares in the last quarter. Sei Investments Co. increased its position in shares of Landstar System by 17.9% in the first quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock worth $13,926,000 after acquiring an additional 10,978 shares in the last quarter. Tidal Investments LLC increased its position in shares of Landstar System by 125.4% in the first quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock worth $2,467,000 after acquiring an additional 7,118 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Landstar System by 18.5% in the first quarter. Comerica Bank now owns 31,154 shares of the transportation company’s stock worth $6,005,000 after acquiring an additional 4,853 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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.