Landstar System (NASDAQ:LSTR) had its target price upped by Buckingham Research from $130.00 to $131.00 in a report published on Wednesday. They currently have a neutral rating on the transportation company’s stock.
A number of other research firms have also recently commented on LSTR. KeyCorp reaffirmed a buy rating and set a $125.00 price target on shares of Landstar System in a research note on Friday, February 2nd. Cowen reaffirmed a market perform rating and set a $115.00 price target (up from $97.00) on shares of Landstar System in a research note on Thursday, February 1st. Cleveland Research raised shares of Landstar System from a neutral rating to a buy rating in a research note on Friday, January 26th. BidaskClub raised shares of Landstar System from a buy rating to a strong-buy rating in a research note on Wednesday, March 14th. Finally, Morgan Stanley lifted their price target on shares of Landstar System from $75.00 to $94.00 and gave the stock an underweight rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $108.08.
LSTR stock opened at $105.30 on Wednesday. Landstar System has a 12 month low of $80.00 and a 12 month high of $118.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $4,598.06, a P/E ratio of 29.20, a PEG ratio of 1.50 and a beta of 0.79.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. research analysts expect that Landstar System will post 5.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Monday, February 19th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.57%. This is a boost from Landstar System’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, February 15th. Landstar System’s payout ratio is 16.00%.
Landstar System announced that its board has initiated a stock repurchase plan 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. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in LSTR. New York State Common Retirement Fund boosted its position in Landstar System by 0.9% in the 3rd quarter. New York State Common Retirement Fund now owns 207,400 shares of the transportation company’s stock valued at $20,667,000 after buying an additional 1,800 shares during the period. Ameriprise Financial Inc. boosted its position in Landstar System by 46.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 206,592 shares of the transportation company’s stock valued at $20,588,000 after buying an additional 65,294 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of Landstar System by 2.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 40,120 shares of the transportation company’s stock valued at $3,977,000 after purchasing an additional 943 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Landstar System by 11.7% in the 3rd quarter. Legal & General Group Plc now owns 52,200 shares of the transportation company’s stock valued at $5,202,000 after purchasing an additional 5,468 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Landstar System by 4.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 278,344 shares of the transportation company’s stock valued at $27,737,000 after purchasing an additional 11,227 shares in the last quarter. 99.87% of the stock is owned by institutional investors.
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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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