Landstar System (NASDAQ:LSTR) Shares Gap Down – Should You Sell?

Landstar System, Inc. (NASDAQ:LSTR) gapped down before the market opened on Thursday . The stock had previously closed at $157.06, but opened at $151.26. Landstar System shares last traded at $158.33, with a volume of 133,180 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LSTR. UBS Group decreased their price target on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Landstar System in a research report on Monday, December 29th. Stifel Nicolaus lifted their price objective on Landstar System from $140.00 to $147.00 and gave the stock a “hold” rating in a report on Wednesday, January 14th. Truist Financial increased their target price on shares of Landstar System from $130.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, January 15th. Finally, Susquehanna lifted their target price on shares of Landstar System from $110.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $153.00.

Landstar System Stock Up 0.6%

The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $140.92 and a 200-day moving average of $134.30. The company has a market cap of $5.43 billion, a PE ratio of 40.30 and a beta of 0.84.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Sell-side analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, January 6th. This represents a dividend yield of 134.0%. Landstar System’s dividend payout ratio is 40.82%.

Hedge Funds Weigh In On Landstar System

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in Landstar System during the third quarter valued at about $25,000. MAI Capital Management increased its position in shares of Landstar System by 79.3% in the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 107 shares during the period. UMB Bank n.a. increased its position in shares of Landstar System by 335.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 225 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after purchasing an additional 298 shares during the period. Institutional investors own 97.95% of the company’s stock.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.