Landstar System (NASDAQ:LSTR) Reaches New 12-Month Low on Analyst Downgrade

Landstar System, Inc. (NASDAQ:LSTR) hit a new 52-week low during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $184.00 to $177.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Landstar System traded as low as $163.18 and last traded at $166.94, with a volume of 697415 shares traded. The stock had previously closed at $172.92.

Several other analysts also recently issued reports on the stock. Raymond James downgraded shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Stephens reduced their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Susquehanna cut their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group cut their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.27.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the sale, the chief financial officer now owns 14,083 shares of the company’s stock, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Landstar System

Several institutional investors and hedge funds have recently bought and sold shares of the company. Roberts Wealth Advisors LLC boosted its holdings in Landstar System by 1.3% in the 4th quarter. Roberts Wealth Advisors LLC now owns 4,616 shares of the transportation company’s stock valued at $818,000 after purchasing an additional 60 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Landstar System by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company’s stock worth $883,000 after buying an additional 68 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Landstar System by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock worth $107,000 after buying an additional 70 shares in the last quarter. Equitable Trust Co. lifted its holdings in Landstar System by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company’s stock worth $614,000 after buying an additional 71 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in Landstar System by 2.3% during the 3rd quarter. Caprock Group LLC now owns 3,378 shares of the transportation company’s stock worth $638,000 after buying an additional 77 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 29.83 and a beta of 0.83. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $177.10 and its 200-day simple moving average is $182.02.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data 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 19.37%. Analysts predict that Landstar System, Inc. will post 6.7 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, February 18th. Landstar System’s payout ratio is currently 26.09%.

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.