Landstar System (NASDAQ:LSTR) Price Target Raised to $205.00

Landstar System (NASDAQ:LSTR) had its price objective lifted by Truist Financial from $190.00 to $205.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the transportation company’s stock.

Several other analysts have also commented on LSTR. Wall Street Zen raised Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings raised Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Stifel Nicolaus increased their target price on Landstar System from $175.00 to $186.00 and gave the company a “hold” rating in a research report on Monday, July 13th. Morgan Stanley reissued an “underweight” rating and issued a $145.00 price target on shares of Landstar System in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $192.42.

Landstar System Trading Down 0.1%

LSTR stock opened at $211.56 on Wednesday. Landstar System has a 52-week low of $119.32 and a 52-week high of $228.46. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The firm has a market cap of $7.18 billion, a P/E ratio of 58.44 and a beta of 0.89. The company’s 50-day simple moving average is $204.78 and its 200-day simple moving average is $174.86.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.Landstar System’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, equities analysts forecast that Landstar System will post 5.73 EPS for the current fiscal year.

Landstar System declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s payout ratio is 44.20%.

Insider Buying and Selling

In other news, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director owned 18,853 shares in the company, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Landstar System during the fourth quarter worth $25,000. Quarry LP purchased a new position in shares of Landstar System in the third quarter worth about $25,000. Global Retirement Partners LLC lifted its stake in shares of Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after buying an additional 144 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in 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 acquiring an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

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.