Brokerages Set Landstar System, Inc. (NASDAQ:LSTR) Target Price at $174.25

Shares of Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $174.25.

A number of brokerages have recently weighed in on LSTR. Susquehanna dropped their price target on Landstar System from $165.00 to $160.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. TD Cowen dropped their target price on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Stephens cut their target price on shares of Landstar System from $190.00 to $180.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 30th. Evercore ISI dropped their price objective on shares of Landstar System from $165.00 to $160.00 and set an "in-line" rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was 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 directly owns 14,083 shares in the company, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Landstar System

Several institutional investors and hedge funds have recently added to or reduced their stakes in LSTR. Quest Partners LLC purchased a new position in shares of Landstar System in the 2nd quarter valued at $73,000. Whittier Trust Co. of Nevada Inc. raised its position in Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company's stock valued at $83,000 after purchasing an additional 358 shares during the period. GAMMA Investing LLC lifted its stake in shares of Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company's stock worth $107,000 after purchasing an additional 70 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Landstar System in the second quarter worth about $106,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Landstar System in the second quarter worth about $131,000. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Price Performance

Shares of NASDAQ LSTR traded up $0.26 during midday trading on Wednesday, hitting $188.35. The company had a trading volume of 311,349 shares, compared to its average volume of 255,368. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $184.33 and a two-hundred day simple moving average of $183.85. Landstar System has a twelve month low of $165.39 and a twelve month high of $201.40. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 32.31 and a beta of 0.82.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same period last year, the firm earned $1.71 EPS. Landstar System's revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that Landstar System will post 5.57 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be given a dividend of $2.00 per share. This is an increase from Landstar System's previous special dividend of $1.50. Landstar System's dividend payout ratio is 24.70%.

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.