Landstar System’s (LSTR) “Hold” Rating Reiterated at Benchmark

Benchmark reaffirmed their hold rating on shares of Landstar System (NASDAQ:LSTR) in a research report sent to investors on Thursday morning,Benzinga reports.

LSTR has been the subject of a number of other research reports. TD Cowen lowered their target price on Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a report on Thursday. Susquehanna decreased their price objective on Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. cut their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Stifel Nicolaus increased their price target on shares of Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Finally, Truist Financial cut their price objective on shares of Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $160.45.

Landstar System Stock Performance

Shares of Landstar System stock opened at $136.64 on Thursday. Landstar System has a 12 month low of $132.41 and a 12 month high of $196.86. The stock’s fifty day moving average price is $156.41 and its 200-day moving average price is $172.34. The firm has a market cap of $4.83 billion, a P/E ratio of 24.75 and a beta of 0.82. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. On average, equities research analysts expect that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.05%. Landstar System’s payout ratio is currently 26.09%.

Hedge Funds Weigh In On Landstar System

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Landstar System by 151.0% in the first quarter. Versant Capital Management Inc now owns 517 shares of the transportation company’s stock worth $78,000 after buying an additional 311 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Landstar System by 4.9% in the fourth quarter. California State Teachers Retirement System now owns 35,808 shares of the transportation company’s stock valued at $6,154,000 after purchasing an additional 1,685 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Landstar System by 3.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,014 shares of the transportation company’s stock worth $518,000 after acquiring an additional 94 shares during the period. Brooklyn FI LLC acquired a new stake in Landstar System during the fourth quarter worth $386,000. Finally, Ascent Group LLC raised its position in Landstar System by 24.5% in the fourth quarter. Ascent Group LLC now owns 7,371 shares of the transportation company’s stock valued at $1,267,000 after purchasing an additional 1,451 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

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.