SunTrust Banks set a $110.00 price objective on Landstar System (NASDAQ:LSTR) in a research note issued to investors on Friday morning, TipRanks reports. The brokerage currently has a hold rating on the transportation company’s stock. SunTrust Banks also issued estimates for Landstar System’s Q3 2019 earnings at $1.50 EPS, Q4 2019 earnings at $1.57 EPS, FY2019 earnings at $6.17 EPS, Q3 2020 earnings at $1.63 EPS, Q4 2020 earnings at $1.71 EPS and FY2020 earnings at $6.56 EPS.

Other research analysts have also recently issued research reports about the stock. Wolfe Research raised shares of Covenant Transportation Group from an underperform rating to a peer perform rating in a report on Friday, June 28th. Morgan Stanley set a $36.00 price target on shares of ArcBest and gave the stock a hold rating in a report on Monday, July 8th. Credit Suisse Group set a €59.00 ($68.60) price target on shares of Renault and gave the stock a neutral rating in a report on Friday. Stephens set a $112.00 price target on shares of Genesee & Wyoming and gave the stock a hold rating in a report on Monday, July 1st. Finally, Deutsche Bank set a $81.00 price target on shares of Franco Nevada and gave the stock a hold rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $110.35.

LSTR stock traded down $1.44 during midday trading on Friday, reaching $112.44. 47,554 shares of the company’s stock traded hands, compared to its average volume of 320,968. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.52 and a beta of 1.26. Landstar System has a 52 week low of $90.23 and a 52 week high of $128.70. The firm has a 50-day moving average price of $106.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.98 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.01). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.07 billion. Landstar System had a return on equity of 36.17% and a net margin of 5.82%. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 EPS. On average, sell-side analysts forecast that Landstar System will post 6.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be given a $0.185 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Landstar System’s previous quarterly dividend of $0.17. This represents a $0.74 annualized dividend and a yield of 0.66%. Landstar System’s payout ratio is 10.68%.

In other Landstar System news, CMO Patrick J. O’malley sold 23,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $110.82, for a total transaction of $2,548,860.00. Following the completion of the sale, the chief marketing officer now directly owns 20,929 shares in the company, valued at $2,319,351.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LSTR. Norges Bank purchased a new stake in Landstar System during the fourth quarter valued at about $41,862,000. Victory Capital Management Inc. boosted its position in Landstar System by 21.1% during the first quarter. Victory Capital Management Inc. now owns 2,080,700 shares of the transportation company’s stock valued at $227,607,000 after buying an additional 361,977 shares during the period. BlackRock Inc. raised its stake in shares of Landstar System by 5.2% during the first quarter. BlackRock Inc. now owns 5,689,622 shares of the transportation company’s stock valued at $622,387,000 after acquiring an additional 278,921 shares during the last quarter. Impala Asset Management LLC bought a new position in shares of Landstar System during the first quarter valued at about $25,012,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Landstar System by 2,928.2% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 225,451 shares of the transportation company’s stock valued at $24,662,000 after acquiring an additional 218,006 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

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 service providers.

Featured Article: Different Options Trading Strategies

Analyst Recommendations for Landstar System (NASDAQ:LSTR)

Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.