Landstar System (NASDAQ:LSTR) Sets New 1-Year 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)'s stock price hit a new 52-week low 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.

A number of other research analysts have also recently issued reports on the company. Susquehanna set a $123.00 target price on Landstar System and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Wall Street Zen cut Landstar System from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. UBS Group decreased their target price on Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Evercore ISI decreased their price target on Landstar System from $135.00 to $132.00 and set an "in-line" rating for the company in a research note on Wednesday, July 30th. Finally, Baird R W raised Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $145.17.

Institutional Investors Weigh In On Landstar System

Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Landstar System by 120.7% during the fourth quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock valued at $28,408,000 after purchasing an additional 90,391 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Landstar System by 0.3% during the first quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company's stock valued at $12,203,000 after buying an additional 213 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Landstar System by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after buying an additional 154 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Landstar System by 31.7% during the first quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company's stock valued at $1,225,000 after buying an additional 1,961 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Landstar System by 1.2% during the first quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company's stock valued at $29,707,000 after buying an additional 2,318 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Stock Up 1.5%

The stock has a 50 day moving average price of $139.28 and a 200-day moving average price of $146.38. The stock has a market capitalization of $4.52 billion, a P/E ratio of 27.32 and a beta of 0.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.48 earnings per share. As a group, research analysts expect that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 annualized dividend and a yield of 1.2%. Landstar System's dividend payout ratio (DPR) is 33.54%.

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.