Landstar System (NASDAQ:LSTR) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Landstar System (NASDAQ:LSTR) from a peer perform rating to an outperform rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $214.00 price objective on the transportation company’s stock.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group boosted their target price on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a report on Thursday, July 16th. Robert W. Baird reduced their price target on Landstar System from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $145.00 price target on shares of Landstar System in a research report on Monday, July 6th. Truist Financial upped their price target on shares of Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Finally, UBS Group reissued a “neutral” rating and set a $195.00 price objective on shares of Landstar System in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $196.00.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $177.06 on Tuesday. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The company has a 50 day simple moving average of $205.72 and a two-hundred day simple moving average of $178.92. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 45.87 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82.

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

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.44 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 1.0%. This is an increase from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is currently 45.60%.

Landstar System declared that its board has initiated a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Landstar System

In other news, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction that occurred 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 completion of 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the 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 transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Company 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 LSTR. Los Angeles Capital Management LLC purchased a new position in shares of Landstar System in the 4th quarter worth $25,000. Global Retirement Partners LLC increased its position in Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 144 shares during the last quarter. Quarry LP purchased a new stake in Landstar System during the third quarter valued at $25,000. Elevation Wealth Partners LLC lifted its holdings in Landstar System by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 66 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares during the period. 97.95% of the stock is currently owned by hedge funds and other 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.