Landstar System (NASDAQ:LSTR) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of Landstar System (NASDAQ:LSTR) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday, March 14th.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Landstar System from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Cowen reissued a market perform rating and issued a $115.00 target price (up from $97.00) on shares of Landstar System in a report on Thursday, February 1st. Buckingham Research increased their target price on shares of Landstar System from $114.00 to $126.00 and gave the stock a neutral rating in a report on Friday, February 2nd. KeyCorp reaffirmed a buy rating and set a $125.00 price objective on shares of Landstar System in a report on Friday, February 2nd. Finally, Cleveland Research raised shares of Landstar System from a neutral rating to a buy rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Landstar System has an average rating of Buy and a consensus target price of $107.50.

Landstar System (LSTR) traded up $0.15 on Wednesday, reaching $113.20. 145,587 shares of the company’s stock traded hands, compared to its average volume of 262,289. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.13. The company has a market cap of $4,715.64, a PE ratio of 26.84, a P/E/G ratio of 1.61 and a beta of 0.80. Landstar System has a 1-year low of $80.00 and a 1-year high of $118.60.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, January 31st. The transportation company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. research analysts forecast that Landstar System will post 5.15 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Monday, February 19th were given a $0.15 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. Landstar System’s dividend payout ratio (DPR) is currently 14.25%.

Landstar System announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional investors and hedge funds have recently modified their holdings of the stock. First Manhattan Co. bought a new stake in Landstar System in the fourth quarter worth $104,000. Zions Bancorporation bought a new stake in shares of Landstar System during the third quarter worth $167,000. Advisory Services Network LLC lifted its position in shares of Landstar System by 2,304.0% during the fourth quarter. Advisory Services Network LLC now owns 1,803 shares of the transportation company’s stock worth $188,000 after purchasing an additional 1,728 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Landstar System during the third quarter worth $210,000. Finally, Strategic Global Advisors LLC bought a new stake in shares of Landstar System during the third quarter worth $212,000. Institutional investors own 99.82% 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.

Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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