Landstar System (NASDAQ:LSTR) Hits New 52-Week Low Following Analyst Downgrade

Key Points

• Landstar System shares reached a new 52-week low at $128.66 after Stifel Nicolaus downgraded its price target from $140.00 to $131.00, maintaining a hold rating.
• The company reported earnings per share (EPS) of $1.20, which exceeded analysts' expectations of $1.16, despite a 1.1% year-over-year revenue decline.
• Landstar System declared a quarterly dividend of $0.40 per share, providing an annual yield of 1.2%, with the payment scheduled for September 9th.

Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday after Stifel Nicolaus lowered their price target on the stock from $140.00 to $131.00. Stifel Nicolaus currently has a hold rating on the stock. Landstar System traded as low as $128.66 and last traded at $129.09, with a volume of 208449 shares traded. The stock had previously closed at $133.37.

Several other equities research analysts have also weighed in on the company. Wall Street Zen lowered Landstar System from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Jefferies Financial Group dropped their target price on Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Baird R W raised Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. Robert W. Baird assumed coverage on Landstar System in a report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price target on the stock. Finally, Barclays began coverage on Landstar System in a report on Monday, June 9th. They set an "equal weight" rating and a $145.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $145.17.

Institutional Investors Weigh In On Landstar System

A number of institutional investors have recently bought and sold shares of the business. Colonial Trust Co SC boosted its position in Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after acquiring an additional 71 shares during the period. First Horizon Advisors Inc. boosted its position in Landstar System by 35.3% during the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock worth $48,000 after acquiring an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Landstar System by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company's stock worth $465,000 after acquiring an additional 85 shares during the period. State of Michigan Retirement System boosted its position in Landstar System by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company's stock worth $1,272,000 after acquiring an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in shares of Landstar System by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the transportation company's stock worth $1,487,000 after purchasing an additional 100 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Price Performance

The stock has a 50 day moving average price of $139.46 and a two-hundred day moving average price of $147.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.03 and a current ratio of 2.00. The company has a market capitalization of $4.51 billion, a PE ratio of 27.06 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. The company's revenue was down 1.1% on a year-over-year basis. Equities analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, August 19th. Landstar System's dividend payout ratio (DPR) is 31.68%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.