Landstar System (NASDAQ:LSTR) Upgraded at Zacks Research

Landstar System (NASDAQ:LSTR) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus increased their target price on Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. UBS Group reaffirmed a “neutral” rating and issued a $195.00 price target on shares of Landstar System in a research report on Wednesday, July 29th. TD Cowen dropped their price target on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating on the stock in a research note on Tuesday, July 28th. The Goldman Sachs Group upped their price target on shares of Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research note on Thursday, July 16th. Finally, Evercore set a $181.00 price objective on shares of Landstar System in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus price target of $196.00.

Landstar System Stock Performance

Shares of LSTR opened at $181.62 on Monday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $6.16 billion, a P/E ratio of 47.05 and a beta of 0.90. The business’s 50 day moving average price is $206.69 and its 200-day moving average price is $178.59. Landstar System has a 52 week low of $119.32 and a 52 week high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Equities research analysts anticipate that Landstar System will post 5.8 earnings per share for the current fiscal year.

Landstar System declared that its board has authorized a stock buyback program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO James P. Todd sold 1,200 shares of the stock in a transaction 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 sale, 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 filing with the SEC, which is available at the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction dated 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 completion of the sale, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.74% of the company’s stock.

Institutional Trading of Landstar System

A number of large investors have recently made changes to their positions in LSTR. Oppenheimer Asset Management Inc. purchased a new position in shares of Landstar System during the second quarter valued at approximately $1,931,000. Walleye Capital LLC purchased a new stake in Landstar System in the second quarter worth approximately $21,043,000. Fulton Bank N.A. grew its position in Landstar System by 8.0% in the 2nd 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 during the period. Elevation Wealth Partners LLC grew its position in Landstar System by 41.8% in the 2nd 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 period. Finally, Assenagon Asset Management S.A. purchased a new stake in Landstar System during the 2nd quarter valued at $6,064,000. 97.95% of the stock is currently owned by 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.