Landstar System (NASDAQ:LSTR) announced that its Board of Directors has approved a share repurchase program, which permits the company to buyback 1,960,000 outstanding shares on Wednesday, December 13th, EventVestor reports. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Shares of Landstar System (NASDAQ:LSTR) traded down $0.80 during trading hours on Friday, hitting $103.70. The stock had a trading volume of 246,000 shares, compared to its average volume of 292,615. Landstar System has a 52-week low of $80.00 and a 52-week high of $107.60. The stock has a market cap of $4,385.43, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 2.11 and a beta of 0.81. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.12.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The firm had revenue of $943.40 million for the quarter, compared to analyst estimates of $895.31 million. During the same quarter last year, the firm posted $0.86 EPS. The business’s revenue was up 19.7% on a year-over-year basis. analysts forecast that Landstar System will post 3.68 earnings per share for the current year.

The firm also recently announced a special dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a dividend of $1.50 per share. This is a positive change from Landstar System’s previous special dividend of $1.00. The ex-dividend date is Thursday, January 11th. This represents a dividend yield of 0.39%. Landstar System’s dividend payout ratio (DPR) is 11.08%.

A number of equities research analysts have recently commented on LSTR shares. KeyCorp reaffirmed a “buy” rating and set a $110.00 price objective on shares of Landstar System in a research note on Tuesday, October 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price objective on shares of Landstar System in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Tuesday, October 10th. Robert W. Baird reaffirmed a “hold” rating and set a $102.00 price objective on shares of Landstar System in a research note on Friday, October 6th. Finally, Cowen reaffirmed a “hold” rating and set a $97.00 price objective on shares of Landstar System in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $96.67.

In other Landstar System news, Director Dr. Homaira Akbari sold 1,000 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $98.30, for a total value of $98,300.00. Following the transaction, the director now owns 6,656 shares in the company, valued at approximately $654,284.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Kneller sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the vice president now owns 22,153 shares in the company, valued at approximately $2,193,147. The disclosure for this sale can be found here. Insiders have sold a total of 40,805 shares of company stock worth $4,028,128 in the last quarter. Insiders own 1.00% of the company’s stock.

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About Landstar System

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

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