Zacks Investment Research Upgrades Landstar System (LSTR) to Buy
Zacks Investment Research upgraded shares of Landstar System (NASDAQ:LSTR) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $121.00 target price on the transportation company’s stock.
According to Zacks, “Landstar System, Inc. ( LSTR ) is an asset-light provider of integrated transportation management solutions worldwide. The company delivers safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity owners and employees. Landstar System transports a variety of freight, including iron and steel, automotive products, paper, lumber, chemicals, foodstuffs, and military hardware. All Landstar transportation services companies are certified to ISO 9001:2008 quality management system standards and RC14001:2013 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. “
LSTR has been the subject of a number of other research reports. Robert W. Baird reissued a hold rating and issued a $102.00 price objective on shares of Landstar System in a research report on Friday, October 6th. Buckingham Research raised their price objective on Landstar System from $103.00 to $106.00 and gave the stock a neutral rating in a research report on Friday, October 27th. Credit Suisse Group reissued a neutral rating and issued a $97.00 price objective (up previously from $84.00) on shares of Landstar System in a research report on Tuesday, October 31st. Cowen reissued a hold rating and issued a $97.00 price objective on shares of Landstar System in a research report on Friday, October 27th. Finally, Morgan Stanley raised their price objective on Landstar System from $68.00 to $73.00 and gave the stock an underweight rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $101.33.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.05. The firm had revenue of $943.40 million during the quarter, compared to analysts’ expectations of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. equities research analysts forecast that Landstar System will post 3.69 EPS for the current year.
The company also recently announced a special dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be paid a $1.50 dividend. This is a positive change from Landstar System’s previous special dividend of $1.00. The ex-dividend date is Thursday, January 11th. This represents a yield of 0.39%. Landstar System’s dividend payout ratio (DPR) is 11.08%.
Landstar System declared that its Board of Directors has initiated a share buyback program on Wednesday, December 13th that permits the company to repurchase 1,960,000 shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Landstar System news, COO Joseph J. Beacom sold 9,805 shares of Landstar System stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $98.32, for a total transaction of $964,027.60. Following the completion of the transaction, the chief operating officer now owns 55,649 shares in the company, valued at approximately $5,471,409.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dr. Homaira Akbari sold 1,000 shares of Landstar System stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the transaction, the director now owns 6,656 shares of the company’s stock, valued at approximately $654,284.80. The disclosure for this sale can be found here. Insiders sold a total of 40,805 shares of company stock valued at $4,028,128 in the last 90 days. 1.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new position in shares of Landstar System during the 4th quarter valued at about $322,000. Fox Run Management L.L.C. raised its stake in shares of Landstar System by 36.5% during the 4th quarter. Fox Run Management L.L.C. now owns 12,148 shares of the transportation company’s stock valued at $1,265,000 after buying an additional 3,248 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Landstar System by 941.6% during the 4th quarter. Acadian Asset Management LLC now owns 22,102 shares of the transportation company’s stock valued at $2,301,000 after buying an additional 19,980 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Landstar System by 6.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 295,684 shares of the transportation company’s stock valued at $30,781,000 after buying an additional 17,340 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Landstar System by 71.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 21,650 shares of the transportation company’s stock valued at $2,254,000 after buying an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.
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Landstar System Company Profile
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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