Landstar System, Inc. (NASDAQ:LSTR) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Landstar System, with 10 hold, three buy, two strong-buy and two sell recommendations. The average 12-month price target is $196, compared with a recent share price of $181.80.
• Landstar reported quarterly EPS of $1.44, below the $1.49 consensus estimate, while revenue rose 18.2% year over year to $1.43 billion and exceeded expectations.
• The company increased its quarterly dividend from $0.40 to $0.44 per share, representing a 1.0% yield. Insiders own just 0.74% of the stock, while institutional investors hold 97.95%.

Shares of Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) have received an average recommendation of "Hold" from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $196.00.

Several research analysts recently issued reports on LSTR shares. JPMorgan Chase & Co. increased their target price on shares of Landstar System from $198.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Morgan Stanley reiterated an "underweight" rating and set a $145.00 price objective on shares of Landstar System in a report on Monday, July 6th. Zacks Research raised shares of Landstar System from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Janney Montgomery Scott set a $182.00 target price on Landstar System in a research note on Wednesday, July 29th. Finally, TD Cowen dropped their price target on Landstar System from $182.00 to $178.00 and set a "hold" rating on the stock in a research note on Tuesday, July 28th.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares of the company's stock, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the sale, the director directly owned 18,853 shares of the company's stock, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is owned by company insiders.

Institutional Trading of Landstar System

Several institutional investors and hedge funds have recently modified their holdings of LSTR. California State Teachers Retirement System grew its stake in shares of Landstar System by 20,011.2% in the 2nd quarter. California State Teachers Retirement System now owns 8,234,347 shares of the transportation company's stock worth $1,702,945,000 after acquiring an additional 8,193,403 shares in the last quarter. BlackRock Inc. bought a new position in shares of Landstar System during the second quarter valued at about $698,683,000. AQR Capital Management LLC boosted its holdings in Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company's stock worth $141,844,000 after purchasing an additional 641,319 shares during the last quarter. Millennium Management LLC boosted its holdings in Landstar System by 910.2% during the fourth quarter. Millennium Management LLC now owns 541,880 shares of the transportation company's stock worth $77,868,000 after purchasing an additional 488,238 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Landstar System by 5,643.4% in the 4th quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company's stock worth $55,577,000 after purchasing an additional 380,024 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Up 0.1%

Shares of NASDAQ LSTR opened at $181.80 on Friday. The company's 50 day moving average price is $195.82 and its 200-day moving average price is $181.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. Landstar System has a 52-week low of $119.32 and a 52-week high of $228.46. The company has a market capitalization of $6.17 billion, a P/E ratio of 47.10 and a beta of 0.90.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned $1.20 earnings per share. The company's quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts forecast that Landstar System will post 5.84 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. This is a positive change from Landstar System's previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 18th. Landstar System's dividend payout ratio is presently 45.60%.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar's proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.

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