Landstar System (NASDAQ:LSTR)‘s stock had its “hold” rating reissued by stock analysts at Robert W. Baird in a report released on Tuesday, January 9th. They currently have a $105.00 target price on the transportation company’s stock. Robert W. Baird’s price target indicates a potential downside of 3.18% from the stock’s current price.
Several other equities research analysts have also recently issued reports on the stock. Susquehanna Bancshares raised shares of Landstar System from a “neutral” rating to a “positive” rating and raised their price target for the stock from $109.00 to $124.00 in a research note on Monday, January 8th. BidaskClub lowered shares of Landstar System from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 3rd. Zacks Investment Research lowered shares of Landstar System from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Morgan Stanley lifted their price objective on shares of Landstar System from $68.00 to $73.00 and gave the company an “underweight” rating in a research note on Thursday, October 5th. Finally, Buckingham Research raised their price target on shares of Landstar System from $103.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $101.33.
Shares of Landstar System (NASDAQ:LSTR) opened at $108.45 on Tuesday. The company has a market cap of $4,551.19, a price-to-earnings ratio of 30.04, a P/E/G ratio of 1.85 and a beta of 0.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 1.96. Landstar System has a 12-month low of $80.00 and a 12-month high of $108.55.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.05. The company had revenue of $943.40 million during the quarter, compared to the consensus estimate of $895.31 million. Landstar System had a net margin of 4.49% and a return on equity of 27.03%. Landstar System’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. equities analysts forecast that Landstar System will post 3.69 earnings per share for the current year.
Landstar System announced that its board has authorized a stock buyback program on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, CEO James B. Gattoni sold 15,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $98.72, for a total value of $1,480,800.00. Following the completion of the transaction, the chief executive officer now directly owns 69,339 shares in the company, valued at $6,845,146.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dr. Homaira Akbari sold 1,000 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the completion of the sale, the director now owns 6,656 shares in the company, valued at $654,284.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,805 shares of company stock valued at $4,028,128. Corporate insiders own 1.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in shares of Landstar System by 64.8% during the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock worth $130,000 after purchasing an additional 599 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Landstar System by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock worth $156,000 after purchasing an additional 224 shares during the last quarter. Zions Bancorporation bought a new stake in shares of Landstar System during the third quarter worth $167,000. PNC Financial Services Group Inc. grew its holdings in shares of Landstar System by 22.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock worth $171,000 after purchasing an additional 373 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Landstar System during the second quarter worth $202,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.
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About Landstar System
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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