Landstar System, Inc. (NASDAQ:LSTR) Receives Consensus Rating of “Hold” from Analysts

Landstar System, Inc. (NASDAQ:LSTR) has been given a consensus rating of “Hold” by the fourteen analysts that are currently covering the company, MarketBeat reports. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $185.9091.

Several brokerages recently commented on LSTR. UBS Group upped their target price on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wells Fargo & Company increased their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Susquehanna increased their target price on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. TD Cowen increased their target price on shares of Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley increased their target price on shares of Landstar System from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th.

Insiders Place Their Bets

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction on Monday, June 15th. The shares were 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 in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Landstar System

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of Landstar System by 196.5% during the fourth quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock valued at $884,000 after purchasing an additional 4,075 shares during the period. Gotham Asset Management LLC raised its holdings in shares of Landstar System by 65.0% during the third quarter. Gotham Asset Management LLC now owns 260,252 shares of the transportation company’s stock valued at $31,896,000 after purchasing an additional 102,524 shares during the period. Fenimore Asset Management Inc raised its holdings in shares of Landstar System by 42.5% during the fourth quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock valued at $69,862,000 after purchasing an additional 145,035 shares during the period. Citigroup Inc. raised its holdings in shares of Landstar System by 112.0% during the third quarter. Citigroup Inc. now owns 112,870 shares of the transportation company’s stock valued at $13,833,000 after purchasing an additional 59,626 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Landstar System by 673.0% during the fourth quarter. SG Americas Securities LLC now owns 21,157 shares of the transportation company’s stock valued at $3,040,000 after purchasing an additional 18,420 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

NASDAQ:LSTR opened at $207.40 on Friday. The stock has a market cap of $7.04 billion, a P/E ratio of 57.29 and a beta of 0.88. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $191.49 and its 200-day moving average is $165.04. 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, topping the consensus estimate of $1.11 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 earnings per share. Equities research analysts anticipate that Landstar System will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

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

Landstar System announced that its Board of Directors has approved a share buyback plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 outstanding 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 typically a sign that the company’s management believes its stock is undervalued.

About Landstar System

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.