Landstar System (NASDAQ:LSTR) Price Target Raised to $230.00

Landstar System (NASDAQ:LSTR) had its price objective increased by Susquehanna from $195.00 to $230.00 in a research note published on Tuesday morning, Marketbeat reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

A number of other research firms also recently issued reports on LSTR. Stifel Nicolaus raised their price objective on shares of Landstar System from $175.00 to $186.00 and gave the stock a “hold” rating in a report on Monday. Truist Financial increased their target price on shares of Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. UBS Group boosted their price target on shares of Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. TD Cowen raised their price objective on shares of Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Finally, Barclays boosted their target price on shares of Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $192.42.

Landstar System Stock Performance

NASDAQ LSTR opened at $211.85 on Tuesday. The company has a fifty day moving average price of $204.21 and a 200-day moving average price of $174.60. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 58.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. Landstar System has a 1 year low of $119.32 and a 1 year high of $228.46.

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

Landstar System announced that its board has authorized a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Landstar System Announces Dividend

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

Insider Transactions at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of Landstar System 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 completion of the sale, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the transaction, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Landstar System

Large investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its stake in Landstar System by 41.8% during the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after purchasing an additional 66 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Landstar System by 1.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after purchasing an additional 68 shares during the last quarter. Petros Family Wealth LLC increased its position in shares of Landstar System by 4.9% during the 1st quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after purchasing an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Landstar System by 29.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after buying an additional 78 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in shares of Landstar System by 1.4% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after buying an additional 89 shares in 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.