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. They currently have $121.00 price target 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. “
A number of other equities research analysts also recently commented on LSTR. KeyCorp reaffirmed a buy rating and issued a $110.00 target price on shares of Landstar System in a research report on Tuesday, October 3rd. Morgan Stanley lifted their target price on shares of Landstar System from $68.00 to $73.00 and gave the stock an underweight rating in a research report on Thursday, October 5th. Robert W. Baird reaffirmed a hold rating and issued a $102.00 target price on shares of Landstar System in a research report on Friday, October 6th. Buckingham Research started coverage on shares of Landstar System in a research report on Friday, October 20th. They issued a neutral rating and a $103.00 target price for the company. Finally, Cowen reaffirmed a hold rating and issued a $97.00 target price on shares of Landstar System in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $101.33.
Shares of Landstar System (NASDAQ:LSTR) traded down $0.15 during midday trading on Tuesday, reaching $108.05. 207,274 shares of the company were exchanged, compared to its average volume of 254,636. Landstar System has a 52 week low of $80.00 and a 52 week high of $109.40. The stock has a market cap of $4,530.00, a price-to-earnings ratio of 29.85, 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 quick ratio of 1.96 and a current ratio of 1.96.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.05. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The company had revenue of $943.40 million during the quarter, compared to analyst estimates of $895.31 million. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. equities research analysts predict that Landstar System will post 3.69 earnings per share for the current year.
Landstar System announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 13th that allows the company to buyback 1,960,000 shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a special dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a dividend of $1.50 per share. This is an increase from Landstar System’s previous special dividend of $1.00. The ex-dividend date of this dividend is Thursday, January 11th. This represents a dividend yield of 0.39%. Landstar System’s payout ratio is presently 11.05%.
In related news, VP Michael K. Kneller sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the vice president now owns 22,153 shares of the company’s stock, valued at approximately $2,193,147. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dr. Homaira Akbari sold 1,000 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $98.30, for a total transaction of $98,300.00. Following the completion of the transaction, the director now directly owns 6,656 shares of the company’s stock, valued at approximately $654,284.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,805 shares of company stock valued at $4,028,128. Insiders own 1.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of LSTR. Victory Capital Management Inc. bought a new position in Landstar System in the 3rd quarter worth $86,725,000. Janus Henderson Group PLC purchased a new stake in Landstar System in the 2nd quarter worth $57,249,000. FMR LLC lifted its stake in Landstar System by 64.7% in the 2nd quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock worth $103,575,000 after purchasing an additional 475,220 shares in the last quarter. Koch Industries Inc. purchased a new stake in Landstar System in the 2nd quarter worth $339,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Landstar System in the 3rd quarter worth $22,780,000. 97.93% of the stock is owned by institutional investors.
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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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