Landstar System (NASDAQ:LSTR) Stock Rating Lowered by Wall Street Zen

Wall Street Zen cut shares of Landstar System (NASDAQ:LSTR - Free Report) from a hold rating to a sell rating in a report released on Saturday morning.

Other research analysts have also recently issued research reports about the stock. Truist Financial decreased their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a report on Thursday, April 24th. TD Cowen decreased their price target on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Barclays assumed coverage on shares of Landstar System in a report on Monday, June 9th. They issued an "equal weight" rating and a $145.00 price target for the company. Baird R W raised shares of Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Evercore ISI reduced their target price on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $151.31.

Landstar System Stock Down 1.7%

LSTR traded down $2.47 during trading on Friday, hitting $143.26. The stock had a trading volume of 363,872 shares, compared to its average volume of 306,254. The company has a market capitalization of $5.01 billion, a PE ratio of 28.37 and a beta of 0.88. Landstar System has a twelve month low of $128.99 and a twelve 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 50 day simple moving average of $139.98 and a two-hundred day simple moving average of $150.33.

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

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.12%. This is an increase from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, June 5th. Landstar System's payout ratio is 31.68%.

Institutional Investors Weigh In On Landstar System

A number of institutional investors and hedge funds have recently made changes to their positions in LSTR. Alpine Bank Wealth Management purchased a new stake in Landstar System during the 1st quarter worth approximately $25,000. Colonial Trust Co SC increased its stake 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 buying an additional 71 shares during the period. Geneos Wealth Management Inc. increased its stake in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock worth $37,000 after buying an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Landstar System by 118.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company's stock worth $39,000 after buying an additional 152 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after buying an additional 154 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

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.