Landstar System (NASDAQ:LSTR) Price Target Raised to $175.00

Landstar System (NASDAQ:LSTR) had its price target hoisted by Stifel Nicolaus from $147.00 to $175.00 in a research report report published on Wednesday,Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other equities analysts have also commented on the company. Evercore upped their price target on Landstar System from $125.00 to $151.00 and gave the company an “in-line” rating in a research note on Monday, January 12th. Weiss Ratings downgraded Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, April 14th. Benchmark restated a “hold” rating on shares of Landstar System in a report on Thursday, January 29th. TD Cowen reaffirmed a “hold” rating on shares of Landstar System in a research report on Friday, January 9th. Finally, Barclays lifted their price target on shares of Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $178.45.

Landstar System Stock Down 1.4%

Shares of NASDAQ LSTR opened at $181.56 on Wednesday. The company has a 50 day simple moving average of $162.01 and a 200-day simple moving average of $148.18. The company has a market capitalization of $6.17 billion, a P/E ratio of 50.15 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.75. Landstar System has a 1 year low of $119.32 and a 1 year high of $195.84.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, equities research analysts predict that Landstar System will post 5.54 earnings per share for the current year.

Landstar System declared that its board has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization permits the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.60 annualized dividend and a yield of 0.9%. Landstar System’s dividend payout ratio is presently 44.20%.

Hedge Funds Weigh In On Landstar System

Several institutional investors have recently bought and sold shares of LSTR. Petros Family Wealth LLC boosted its stake in shares of Landstar System by 4.9% in the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after purchasing an additional 73 shares during the period. Vestmark Advisory Solutions Inc. increased its stake in Landstar System by 0.4% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock worth $2,523,000 after buying an additional 78 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Landstar System by 29.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after buying an additional 78 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in Landstar System by 1.4% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock worth $918,000 after buying an additional 89 shares in the last quarter. Finally, Cardinal Capital Management boosted its position in Landstar System by 0.4% in the 3rd quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock valued at $2,981,000 after buying an additional 90 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.