Susquehanna Cuts Landstar System (NASDAQ:LSTR) Price Target to $130.00

Landstar System (NASDAQ:LSTR) had its target price lowered by Susquehanna from $150.00 to $130.00 in a report issued on Wednesday morning, MarketBeat.com reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

LSTR has been the subject of several other research reports. Stifel Nicolaus lifted their price objective on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Friday, January 31st. Truist Financial initiated coverage on Landstar System in a research report on Thursday, March 13th. They set a “hold” rating and a $160.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $166.73.

Landstar System Trading Down 0.9 %

Landstar System stock opened at $147.37 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. The stock has a 50-day simple moving average of $159.43 and a 200 day simple moving average of $173.69. The stock has a market capitalization of $5.20 billion, a P/E ratio of 26.70 and a beta of 0.82. Landstar System has a 52 week low of $144.13 and a 52 week high of $196.86.

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

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.98%. The ex-dividend date was Tuesday, February 18th. Landstar System’s payout ratio is 26.09%.

Institutional Investors Weigh In On Landstar System

A number of hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its stake in 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 valued at $646,985,000 after purchasing an additional 521,695 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Landstar System during the fourth quarter worth $63,816,000. Norges Bank bought a new position in shares of Landstar System in the 4th quarter valued at $54,088,000. Corient Private Wealth LLC boosted its holdings in shares of Landstar System by 1,207.3% during the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock valued at $50,509,000 after acquiring an additional 271,417 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Landstar System by 116.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company’s stock worth $47,205,000 after acquiring an additional 147,756 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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.