Landstar System (NASDAQ:LSTR) Now Covered by Robert W. Baird

Robert W. Baird assumed coverage on shares of Landstar System (NASDAQ:LSTR - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $166.00 target price on the transportation company's stock.

Several other research analysts also recently commented on LSTR. Barclays began coverage on Landstar System in a report on Monday, June 9th. They set an "equal weight" rating and a $145.00 target price on the stock. Wall Street Zen upgraded Landstar System from a "sell" rating to a "hold" rating in a report on Friday. Susquehanna reissued a "neutral" rating and set a $125.00 target price (up previously from $120.00) on shares of Landstar System in a research report on Tuesday, June 24th. Evercore ISI dropped their price target on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research report on Wednesday, May 14th. Finally, TD Cowen reduced their price objective on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $151.50.

Landstar System Trading Up 4.5%

Shares of NASDAQ:LSTR traded up $6.24 during midday trading on Tuesday, hitting $145.26. 360,292 shares of the stock were exchanged, compared to its average volume of 302,832. The business's 50-day moving average price is $138.42 and its 200 day moving average price is $151.97. Landstar System has a 12 month low of $128.99 and a 12 month high of $196.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 28.76 and a beta of 0.89.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The company's revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 earnings per share. Analysts predict that Landstar System will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were paid a dividend of $0.40 per share. This is an increase from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Thursday, June 5th. Landstar System's dividend payout ratio is 31.68%.

Institutional Investors Weigh In On Landstar System

Hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock worth $646,985,000 after purchasing an additional 521,695 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Landstar System during the fourth quarter worth $63,816,000. Norges Bank bought a new position in shares of Landstar System in the fourth quarter valued at $54,088,000. Reinhart Partners LLC. acquired a new position in shares of Landstar System during the first quarter valued at about $42,887,000. Finally, Corient Private Wealth LLC increased its position in shares of Landstar System by 1,207.3% during the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock worth $50,509,000 after acquiring an additional 271,417 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Company Profile

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.