Landstar System (NASDAQ:LSTR) Hits New 12-Month Low – What’s Next?

Landstar System, Inc. (NASDAQ:LSTR) shares reached a new 52-week low on Friday . The stock traded as low as $165.31 and last traded at $167.09, with a volume of 15836 shares traded. The stock had previously closed at $167.89.

Wall Street Analyst Weigh In

Several research firms have recently commented on LSTR. JPMorgan Chase & Co. upped their price objective on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stephens lowered their price objective on 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. TD Cowen reduced 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. Evercore ISI lowered their price target on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. Finally, Susquehanna reduced their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $174.25.

Landstar System Stock Performance

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 moving average of $180.76 and a 200 day moving average of $182.95. The company has a market capitalization of $5.90 billion, a P/E ratio of 28.66 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share 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 business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm posted $1.71 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, sell-side analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a $2.00 dividend. This is an increase from Landstar System’s previous special dividend of $1.50. The ex-dividend date of this dividend is Tuesday, January 7th. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Landstar System

Several hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI raised its holdings in shares of Landstar System by 19.5% in the second quarter. National Bank of Canada FI now owns 1,383 shares of the transportation company’s stock worth $253,000 after buying an additional 226 shares during the period. Arizona State Retirement System increased its stake in Landstar System by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 9,999 shares of the transportation company’s stock worth $1,845,000 after buying an additional 120 shares during the period. Savant Capital LLC lifted its holdings in Landstar System by 116.3% during the 2nd quarter. Savant Capital LLC now owns 3,993 shares of the transportation company’s stock valued at $737,000 after buying an additional 2,147 shares in the last quarter. Caprock Group LLC boosted its position in Landstar System by 45.4% in the 2nd quarter. Caprock Group LLC now owns 3,301 shares of the transportation company’s stock valued at $609,000 after buying an additional 1,031 shares during the period. Finally, Quest Partners LLC bought a new position in Landstar System in the 2nd quarter worth about $73,000. 97.95% of the stock is currently owned by institutional investors.

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.