Landstar System (NASDAQ:LSTR) Reaches New 52-Week High – Should You Buy?

Landstar System, Inc. (NASDAQ:LSTR)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $196.88 and last traded at $195.49, with a volume of 5831 shares traded. The stock had previously closed at $191.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore set a $181.00 price objective on Landstar System in a report on Wednesday, April 29th. Wells Fargo & Company raised their price objective on Landstar System from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. TD Cowen raised their target price on Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Morgan Stanley raised their target price on Landstar System from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. One investment 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. According to data from MarketBeat, Landstar System currently has a consensus rating of “Hold” and an average target price of $179.36.

Landstar System Stock Up 3.5%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $6.81 billion, a P/E ratio of 55.48 and a beta of 0.85. The stock has a fifty day moving average price of $170.39 and a two-hundred day moving average price of $154.05.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts forecast that Landstar System, Inc. will post 5.55 EPS for the current year.

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Landstar System’s payout ratio is currently 44.20%.

Landstar System declared that its board has initiated a share buyback plan on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Essential Partners LLC grew its stake in shares of Landstar System by 58.3% in the first quarter. Essential Partners LLC now owns 277 shares of the transportation company’s stock worth $44,000 after purchasing an additional 102 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Landstar System by 13.4% in the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock valued at $40,095,000 after buying an additional 29,595 shares during the period. Bull Harbor Capital LLC acquired a new stake in shares of Landstar System in the first quarter valued at $204,000. Amundi lifted its holdings in shares of Landstar System by 2,254.2% in the first quarter. Amundi now owns 79,173 shares of the transportation company’s stock valued at $12,692,000 after buying an additional 75,810 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Landstar System by 133.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,256 shares of the transportation company’s stock valued at $201,000 after buying an additional 719 shares during the period. Institutional investors own 97.95% of the company’s stock.

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.