Landstar System (NASDAQ:LSTR) Sets New 52-Week Low After Analyst Downgrade

Landstar System, Inc. (NASDAQ:LSTR) shares reached a new 52-week low on Thursday after Truist Financial lowered their price target on the stock from $160.00 to $150.00. Truist Financial currently has a hold rating on the stock. Landstar System traded as low as $141.80 and last traded at $142.05, with a volume of 187000 shares. The stock had previously closed at $151.93.

LSTR has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their target price on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. TD Cowen decreased their price objective on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday. Susquehanna dropped their price objective on Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, March 26th. Finally, Stifel Nicolaus increased their target price on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat, Landstar System currently has a consensus rating of “Hold” and an average target price of $163.18.

Institutional Trading of Landstar System

Institutional investors and hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Landstar System in the fourth quarter valued at approximately $25,000. HM Payson & Co. acquired a new position in shares of Landstar System in the 4th quarter valued at $26,000. Colonial Trust Co SC raised its position in Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 71 shares during the last quarter. Trust Co. of Vermont acquired a new stake in Landstar System during the 4th quarter worth $34,000. Finally, BOKF NA grew its position in Landstar System by 56.1% during the 4th quarter. BOKF NA now owns 348 shares of the transportation company’s stock worth $58,000 after purchasing an additional 125 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Down 6.3 %

The business’s 50 day simple moving average is $157.89 and its 200 day simple moving average is $172.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 25.80 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Research analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Tuesday, February 18th. Landstar System’s dividend payout ratio (DPR) is presently 26.09%.

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.