Landstar System (NASDAQ:LSTR) Price Target Raised to $168.00

Landstar System (NASDAQ:LSTR) had its target price increased by equities research analysts at The Goldman Sachs Group from $147.00 to $168.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the transportation company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 20.68% from the company’s previous close.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. Evercore set a $181.00 price target on shares of Landstar System in a report on Wednesday, April 29th. Barclays increased their price objective on Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Finally, TD Cowen boosted their target price on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $192.42.

Landstar System Price Performance

NASDAQ LSTR traded up $3.99 during trading hours on Thursday, hitting $211.80. The company had a trading volume of 140,155 shares, compared to its average volume of 517,386. The firm has a 50 day simple moving average of $203.62 and a 200 day simple moving average of $174.14. Landstar System has a 52 week low of $119.32 and a 52 week high of $228.46. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 58.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88.

Landstar System (NASDAQ:LSTR) last announced 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. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts expect that Landstar System will post 5.72 earnings per share for the current year.

Landstar System declared that its board has approved a share buyback plan on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CFO James P. Todd sold 1,200 shares of the 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 transaction, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction 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. The trade was a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Landstar System

Large investors have recently modified their holdings of the stock. CWM LLC lifted its position in Landstar System by 196.5% during the fourth quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock valued at $884,000 after buying an additional 4,075 shares during the period. Fenimore Asset Management Inc grew its position in shares of Landstar System by 42.5% in the 4th quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock worth $69,862,000 after buying an additional 145,035 shares during the period. SG Americas Securities LLC grew its position in shares of Landstar System by 673.0% in the 4th quarter. SG Americas Securities LLC now owns 21,157 shares of the transportation company’s stock worth $3,040,000 after buying an additional 18,420 shares during the period. Norges Bank bought a new position in shares of Landstar System in the 4th quarter worth about $35,280,000. Finally, Manatuck Hill Partners LLC bought a new position in shares of Landstar System in the 4th quarter worth about $862,000. 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.