Landstar System (NASDAQ:LSTR) Price Target Raised to $186.00

Landstar System (NASDAQ:LSTR) had its target price boosted by research analysts at Stifel Nicolaus from $175.00 to $186.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 11.14% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen upgraded Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Susquehanna boosted their price objective on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Morgan Stanley reiterated an “underweight” rating and set a $145.00 price target on shares of Landstar System in a report on Monday, July 6th. Finally, Truist Financial raised their price objective on shares of Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $190.09.

Landstar System Price Performance

Landstar System stock opened at $209.32 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. Landstar System has a 52-week low of $119.32 and a 52-week high of $228.46. The firm has a market cap of $7.10 billion, a PE ratio of 57.82 and a beta of 0.89. The company’s 50 day moving average is $201.89 and its two-hundred day moving average is $172.26.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, research analysts expect that Landstar System will post 5.66 EPS for the current fiscal year.

Landstar System declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the firm’s 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 sale, the director owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the chief financial officer owned 15,122 shares of the company’s stock, valued at $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. Corporate insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Landstar System

Several hedge funds have recently made changes to their positions in LSTR. CWM LLC lifted its stake in shares of Landstar System by 196.5% in the 4th quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock worth $884,000 after acquiring an additional 4,075 shares during the period. Gotham Asset Management LLC grew its holdings in Landstar System by 65.0% during the third quarter. Gotham Asset Management LLC now owns 260,252 shares of the transportation company’s stock worth $31,896,000 after acquiring an additional 102,524 shares during the period. Fenimore Asset Management Inc grew its holdings in Landstar System by 42.5% during the fourth quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock worth $69,862,000 after acquiring an additional 145,035 shares during the period. SG Americas Securities LLC raised its position in Landstar System by 673.0% in the fourth quarter. SG Americas Securities LLC now owns 21,157 shares of the transportation company’s stock worth $3,040,000 after acquiring an additional 18,420 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Landstar System during the 4th quarter worth $35,280,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.