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

Landstar System, Inc. (NASDAQ:LSTR) shares gapped down prior to trading on Friday . The stock had previously closed at $207.97, but opened at $198.90. Landstar System shares last traded at $199.7920, with a volume of 29,635 shares traded.

Wall Street Analyst Weigh In

LSTR has been the topic of a number of recent analyst reports. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Susquehanna lifted their price objective on shares of Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Stifel Nicolaus increased their target price on Landstar System from $175.00 to $186.00 and gave the company a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $192.42.

Landstar System Stock Performance

The company has a market cap of $6.80 billion, a P/E ratio of 55.33 and a beta of 0.89. The firm has a 50 day moving average price of $208.18 and a 200-day moving average price of $177.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data 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 business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. Landstar System’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. On average, research analysts predict that Landstar System, Inc. will post 5.73 EPS for the current year.

Landstar System Announces Dividend

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

Landstar System declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 shares. This repurchase authorization permits the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction 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. The trade was a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is owned by insiders.

Institutional Trading of Landstar System

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fulton Bank N.A. raised its position in Landstar System by 8.0% in the second quarter. Fulton Bank N.A. now owns 2,620 shares of the transportation company’s stock worth $542,000 after purchasing an additional 194 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in Landstar System by 41.8% during the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 66 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Landstar System in the 2nd quarter valued at approximately $6,064,000. GAMMA Investing LLC grew its stake in shares of Landstar System by 31.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,757 shares of the transportation company’s stock valued at $570,000 after purchasing an additional 667 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Landstar System by 130.5% in the 2nd quarter. Versant Capital Management Inc now owns 839 shares of the transportation company’s stock valued at $174,000 after purchasing an additional 475 shares during the period. 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.