Zacks Investment Research upgraded shares of Landstar System (NASDAQ:LSTR) from a hold rating to a buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $125.00 target price 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 analysts have also recently weighed in on LSTR. Stifel Nicolaus reissued a hold rating and set a $123.00 price objective on shares of Landstar System in a report on Wednesday. Credit Suisse Group decreased their price objective on Landstar System from $115.00 to $108.00 and set a neutral rating on the stock in a report on Monday, April 30th. Cowen reissued a market perform rating and set a $108.00 price objective (down from $118.00) on shares of Landstar System in a report on Thursday, April 26th. Stephens reissued a buy rating and set a $143.00 price objective on shares of Landstar System in a report on Monday, April 9th. Finally, Morgan Stanley raised their price objective on Landstar System from $94.00 to $96.00 and gave the company an underweight rating in a report on Friday, April 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $115.62.
NASDAQ:LSTR opened at $109.20 on Thursday. Landstar System has a twelve month low of $80.00 and a twelve month high of $118.60. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 1.41 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 1.96.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, April 25th. The transportation company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.02. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Landstar System had a return on equity of 27.86% and a net margin of 5.17%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. research analysts expect that Landstar System will post 5.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Thursday, May 10th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 9th. This represents a $0.60 annualized dividend and a yield of 0.55%. Landstar System’s payout ratio is 16.00%.
In related news, CMO Patrick J. O’malley sold 1,812 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $115.62, for a total transaction of $209,503.44. Following the transaction, the chief marketing officer now directly owns 32,830 shares in the company, valued at approximately $3,795,804.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Hong Kong Ltd grew its position in Landstar System by 890.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,070 shares of the transportation company’s stock worth $117,000 after acquiring an additional 962 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Landstar System in the 1st quarter worth approximately $202,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Landstar System in the 1st quarter worth approximately $234,000. Gideon Capital Advisors Inc. bought a new stake in shares of Landstar System in the 1st quarter worth approximately $244,000. Finally, Franklin Resources Inc. bought a new stake in shares of Landstar System in the 4th quarter worth approximately $247,000. Institutional investors and hedge funds own 97.29% of the company’s stock.
Landstar System Company Profile
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments, Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, including third party logistics and less-than-truckload service providers.
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