Landstar System (NASDAQ:LSTR) Upgraded by Baird R W to "Strong-Buy" Rating

Baird R W upgraded shares of Landstar System (NASDAQ:LSTR - Free Report) to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the company. Truist Financial dropped their price target on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Susquehanna restated a "neutral" rating and issued a $125.00 price target (up previously from $120.00) on shares of Landstar System in a research report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price target on Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Benchmark restated a "hold" rating on shares of Landstar System in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded Landstar System from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $151.50.

Landstar System Price Performance

NASDAQ:LSTR traded down $0.50 during trading hours on Tuesday, hitting $146.06. The company's stock had a trading volume of 178,677 shares, compared to its average volume of 303,637. The business's 50-day moving average is $138.87 and its two-hundred day moving average is $151.63. The company has a market capitalization of $5.10 billion, a PE ratio of 28.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. Landstar System has a 52-week low of $128.99 and a 52-week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.07). The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company posted $1.32 EPS. As a group, research analysts anticipate that Landstar System will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

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

Institutional Investors Weigh In On Landstar System

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alpine Bank Wealth Management purchased a new stake in Landstar System during the 1st quarter worth approximately $25,000. HM Payson & Co. purchased a new stake in Landstar System during the 4th quarter worth approximately $26,000. Colonial Trust Co SC increased its holdings 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 purchasing an additional 71 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings 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 purchasing an additional 142 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings 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 purchasing an additional 154 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

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.