Landstar System (NASDAQ:LSTR) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Landstar System (NASDAQ:LSTR) had its price target upped by equities research analysts at The Goldman Sachs Group from $147.00 to $168.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the transportation company’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 20.59% from the company’s current price.

Several other research analysts have also recently weighed in on LSTR. TD Cowen raised their target price on Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Barclays boosted their price target on shares of Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Wells Fargo & Company upped their price target on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Truist Financial raised their price objective on shares of Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Stifel Nicolaus raised their price objective on shares of Landstar System from $175.00 to $186.00 and gave the company a “hold” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Landstar System currently has a consensus rating of “Hold” and a consensus target price of $192.42.

Landstar System Trading Down 0.1%

Landstar System stock opened at $211.56 on Thursday. Landstar System has a 12-month low of $119.32 and a 12-month high of $228.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $7.18 billion, a PE ratio of 58.44 and a beta of 0.89. The firm has a 50 day simple moving average of $204.78 and a 200-day simple moving average of $174.86.

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

Landstar System declared that its board has authorized a share buyback plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

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

Hedge Funds Weigh In On Landstar System

Institutional investors and hedge funds 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 in the fourth quarter valued at $25,000. Quarry LP purchased a new position in shares of Landstar System during the third quarter valued at $25,000. Global Retirement Partners LLC grew its holdings in shares of Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after buying an additional 144 shares in the last quarter. Geneos Wealth Management Inc. raised 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 valued at $37,000 after buying an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised 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 valued at $39,000 after buying an additional 298 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

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.