Landstar System, Inc. (NASDAQ:LSTR) Receives $179.36 Consensus Price Target from Analysts

Landstar System, Inc. (NASDAQ:LSTR) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are presently covering the stock, MarketBeat reports. Twelve investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $179.3636.

Several equities research analysts have commented on the company. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Thursday, January 29th. TD Cowen boosted their price objective on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Evercore set a $181.00 price objective on Landstar System in a research note on Wednesday, April 29th. Finally, Truist Financial boosted their price objective on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th.

Landstar System Price Performance

NASDAQ:LSTR opened at $202.13 on Wednesday. Landstar System has a 12 month low of $119.32 and a 12 month high of $202.96. The stock has a 50 day moving average of $171.48 and a two-hundred day moving average of $154.57. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The firm has a market cap of $6.86 billion, a P/E ratio of 55.84 and a beta of 0.85.

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

Landstar System Dividend Announcement

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

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

Institutional Investors Weigh In On Landstar System

Large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Landstar System in the fourth quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of Landstar System in the third quarter valued at approximately $25,000. Global Retirement Partners LLC grew its position in shares of Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. UMB Bank n.a. grew its position in shares of Landstar System by 335.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 225 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

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.