Brokerages Set Landstar System, Inc. (NASDAQ:LSTR) PT at $183.00

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been assigned an average recommendation of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $183.00.

A number of research analysts have recently commented on LSTR shares. Susquehanna increased their target price on Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. UBS Group boosted their price objective on Landstar System from $147.00 to $185.00 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. Morgan Stanley boosted their price objective on Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, Weiss Ratings raised Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th.

Insiders Place Their Bets

In related news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the sale, the director owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.74% of the stock is owned by company insiders.

Institutional Trading of Landstar System

A number of institutional investors have recently bought and sold shares of the stock. M&T Bank Corp lifted its position in shares of Landstar System by 151,424.4% during the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock worth $904,495,000 after purchasing an additional 6,290,171 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after purchasing an additional 641,319 shares during the last quarter. Millennium Management LLC lifted its position in shares of Landstar System by 910.2% during the fourth quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock worth $77,868,000 after purchasing an additional 488,238 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Landstar System by 5,643.4% during the fourth quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock worth $55,577,000 after purchasing an additional 380,024 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Landstar System by 99.5% during the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after purchasing an additional 370,253 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Down 1.4%

NASDAQ LSTR opened at $216.15 on Friday. 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 company has a market capitalization of $7.33 billion, a P/E ratio of 59.71 and a beta of 0.88. Landstar System has a one year low of $119.32 and a one year high of $228.46. The stock has a 50 day moving average price of $189.82 and a 200-day moving average price of $163.95.

Landstar System (NASDAQ:LSTR) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. As a group, equities analysts predict that Landstar System will post 5.57 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were given a $0.40 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Landstar System’s dividend payout ratio (DPR) is currently 44.20%.

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

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.