Landstar System (NASDAQ:LSTR) Price Target Lowered to $145.00 at Morgan Stanley

Landstar System (NASDAQ:LSTR) had its target price cut by Morgan Stanley from $147.00 to $145.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Landstar System from $166.00 to $164.00 and set a hold rating for the company in a research note on Monday, April 29th. Raymond James began coverage on shares of Landstar System in a research note on Wednesday, May 15th. They issued an outperform rating and a $205.00 price objective for the company. Evercore ISI upped their price objective on shares of Landstar System from $161.00 to $173.00 and gave the company an in-line rating in a research note on Tuesday, June 25th. Susquehanna decreased their price objective on shares of Landstar System from $165.00 to $160.00 and set a neutral rating for the company in a research note on Friday, April 26th. Finally, Benchmark reiterated a hold rating on shares of Landstar System in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $182.55.

Landstar System Stock Performance

Shares of LSTR stock opened at $178.57 on Monday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $181.30 and a 200 day moving average price of $185.39. The company has a market cap of $6.39 billion, a P/E ratio of 27.47 and a beta of 0.80. Landstar System has a 12 month low of $161.13 and a 12 month high of $208.62.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. Sell-side analysts predict that Landstar System will post 6.31 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Wednesday, May 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.32 annualized dividend and a yield of 0.74%. Landstar System’s dividend payout ratio is currently 20.31%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LSTR. Schroder Investment Management Group raised its holdings in Landstar System by 8.1% during the third quarter. Schroder Investment Management Group now owns 42,840 shares of the transportation company’s stock worth $7,580,000 after purchasing an additional 3,206 shares in the last quarter. Royal Bank of Canada raised its holdings in Landstar System by 6.3% during the third quarter. Royal Bank of Canada now owns 335,747 shares of the transportation company’s stock worth $59,407,000 after purchasing an additional 19,920 shares in the last quarter. Tudor Investment Corp Et Al purchased a new position in Landstar System during the third quarter worth about $4,416,000. Diversified Trust Co purchased a new position in Landstar System during the third quarter worth about $460,000. Finally, American Century Companies Inc. increased its holdings in Landstar System by 22.4% in the third quarter. American Century Companies Inc. now owns 46,517 shares of the transportation company’s stock valued at $8,231,000 after buying an additional 8,525 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other 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.