Landstar System (NASDAQ:LSTR) Issues Earnings Results, Misses Estimates By $0.05 EPS

Landstar System (NASDAQ:LSTR) announced its quarterly earnings data on Tuesday. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05), FiscalAI reports. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. During the same period in the previous year, the firm posted $1.20 earnings per share.

Landstar System Stock Down 3.3%

Landstar System stock traded down $6.31 during mid-day trading on Tuesday, hitting $185.32. 552,953 shares of the company’s stock were exchanged, compared to its average volume of 515,669. 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 stock has a market cap of $6.29 billion, a P/E ratio of 51.19 and a beta of 0.89. Landstar System has a 1-year low of $119.32 and a 1-year high of $228.46. The stock has a 50 day moving average of $208.43 and a two-hundred day moving average of $177.57.

Landstar System announced that its Board of Directors has initiated a share buyback program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LSTR shares. Susquehanna lifted their target price on shares of Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $145.00 price target on shares of Landstar System in a research note on Monday, July 6th. Evercore set a $181.00 price objective on Landstar System in a report on Wednesday, April 29th. Wells Fargo & Company lifted their price objective on Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Finally, UBS Group boosted their target price on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $192.67.

Insider Activity

In other news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Landstar System by 14.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 814 shares of the transportation company’s stock valued at $117,000 after purchasing an additional 100 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Landstar System by 54.7% during the 2nd quarter. Osaic Holdings Inc. now owns 662 shares of the transportation company’s stock worth $92,000 after buying an additional 234 shares during the period. Advisory Services Network LLC bought a new stake in shares of Landstar System during the 3rd quarter worth $64,000. UMB Bank n.a. grew its stake in Landstar System by 48.6% in the 4th quarter. UMB Bank n.a. now owns 434 shares of the transportation company’s stock valued at $62,000 after buying an additional 142 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Landstar System in the 2nd quarter valued at $52,000. 97.95% of the stock is owned by 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.