Landstar System (NASDAQ:LSTR) Given New $176.00 Price Target at TD Cowen

Landstar System (NASDAQ:LSTR) had its price objective raised by TD Cowen from $171.00 to $176.00 in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have a hold rating on the transportation company’s stock.

Several other research analysts have also issued reports on LSTR. Morgan Stanley cut their target price on shares of Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a research report on Monday, July 8th. Wolfe Research lowered Landstar System from an outperform rating to a peer perform rating in a research report on Thursday, July 11th. Susquehanna dropped their target price on Landstar System from $165.00 to $160.00 and set a neutral rating for the company in a research report on Friday, April 26th. Benchmark reiterated a hold rating on shares of Landstar System in a research report on Friday, April 26th. Finally, Evercore ISI boosted their price objective on shares of Landstar System from $161.00 to $173.00 and gave the stock an in-line rating in a report on Tuesday, June 25th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $179.73.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $184.59 on Wednesday. The stock has a fifty day moving average of $182.84 and a 200-day moving average of $184.85. The stock has a market cap of $6.54 billion, a PE ratio of 28.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.17. Landstar System has a fifty-two week low of $161.13 and a fifty-two week high of $203.19.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. Equities research analysts anticipate that Landstar System will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 0.78%. Landstar System’s dividend payout ratio is 20.31%.

Hedge Funds Weigh In On Landstar System

Several hedge funds and other institutional investors have recently modified their holdings of LSTR. National Bank of Canada FI boosted its position in Landstar System by 19.5% during the 2nd quarter. National Bank of Canada FI now owns 1,383 shares of the transportation company’s stock valued at $253,000 after acquiring an additional 226 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in Landstar System by 24.4% during the 2nd quarter. Aptus Capital Advisors LLC now owns 21,068 shares of the transportation company’s stock valued at $3,887,000 after acquiring an additional 4,126 shares during the period. Confluence Wealth Services Inc. increased its stake in shares of Landstar System by 12.0% during the second quarter. Confluence Wealth Services Inc. now owns 5,126 shares of the transportation company’s stock valued at $946,000 after purchasing an additional 551 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Landstar System by 11.1% during the second quarter. Van ECK Associates Corp now owns 17,968 shares of the transportation company’s stock valued at $3,315,000 after purchasing an additional 1,791 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Landstar System by 5.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,990 shares of the transportation company’s stock worth $1,474,000 after purchasing an additional 438 shares in the last quarter. 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.