Analysts Set Landstar System, Inc. (NASDAQ:LSTR) Price Target at $189.09

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $194.6364.

Several research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Stephens upgraded Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Susquehanna upped their price objective on shares of Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a report on Tuesday. Weiss Ratings raised shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Finally, TD Cowen lifted their target price on shares of Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th.

Landstar System Price Performance

Shares of LSTR opened at $207.81 on Thursday. The company has a 50 day moving average of $203.62 and a two-hundred day moving average of $174.14. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. Landstar System has a twelve month low of $119.32 and a twelve month high of $228.46. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 57.41 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion for 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 business’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. As a group, analysts predict that Landstar System will post 5.72 earnings per share for the current fiscal year.

Landstar System announced that its board has approved a stock buyback program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were issued a $0.40 dividend. The ex-dividend date of this dividend was 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 (DPR) is currently 44.20%.

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 transaction, the chief financial officer owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction dated 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 sale, the director directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their position. The SEC filing for this sale provides additional information. 0.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its stake in Landstar System by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after acquiring an additional 336 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after acquiring an additional 50,142 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after acquiring an additional 1,298 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Landstar System by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock worth $21,380,000 after acquiring an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Company Profile

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.