Landstar System (LSTR) Downgraded by Zacks Investment Research to Hold

Landstar System (NASDAQ:LSTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Landstar System, Inc. ( LSTR ) is an asset-light provider of integrated transportation management solutions worldwide. The company delivers safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity owners and employees. Landstar System transports a variety of freight, including iron and steel, automotive products, paper, lumber, chemicals, foodstuffs, and military hardware. All Landstar transportation services companies are certified to ISO 9001:2008 quality management system standards and RC14001:2013 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. “

Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of Landstar System from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. KeyCorp restated a “buy” rating and set a $110.00 price objective on shares of Landstar System in a research note on Tuesday, October 3rd. Wells Fargo & Co lifted their price objective on shares of Landstar System from $83.00 to $98.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Morgan Stanley lifted their target price on Landstar System from $68.00 to $73.00 and gave the stock an “underweight” rating in a report on Thursday, October 5th. Finally, Buckingham Research lifted their target price on Landstar System from $103.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $98.73.

Shares of Landstar System (NASDAQ:LSTR) traded up $0.40 during mid-day trading on Wednesday, hitting $104.50. 202,100 shares of the stock traded hands, compared to its average volume of 172,750. Landstar System has a 1-year low of $80.00 and a 1-year high of $107.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market cap of $4,368.64, a price-to-earnings ratio of 28.95, a P/E/G ratio of 1.84 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.05. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The company had revenue of $943.40 million during the quarter, compared to the consensus estimate of $895.31 million. During the same quarter last year, the company earned $0.86 earnings per share. Landstar System’s revenue for the quarter was up 19.7% on a year-over-year basis. equities analysts expect that Landstar System will post 3.68 earnings per share for the current year.

Landstar System announced that its board has initiated a share repurchase plan on Wednesday, December 13th that permits the company to buyback 1,960,000 outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

In other Landstar System news, VP Michael K. Kneller sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the sale, the vice president now directly owns 22,153 shares in the company, valued at $2,193,147. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James B. Gattoni sold 15,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $98.72, for a total value of $1,480,800.00. Following the completion of the sale, the chief executive officer now owns 69,339 shares in the company, valued at $6,845,146.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,805 shares of company stock worth $4,028,128. 1.00% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Southport Management L.L.C. bought a new stake in Landstar System in the third quarter valued at $498,000. Cubist Systematic Strategies LLC grew its position in Landstar System by 109.2% in the second quarter. Cubist Systematic Strategies LLC now owns 4,328 shares of the transportation company’s stock valued at $370,000 after acquiring an additional 2,259 shares during the period. Legal & General Group Plc grew its position in Landstar System by 11.7% in the third quarter. Legal & General Group Plc now owns 52,200 shares of the transportation company’s stock valued at $5,202,000 after acquiring an additional 5,468 shares during the period. Federated Investors Inc. PA grew its position in Landstar System by 17.8% in the second quarter. Federated Investors Inc. PA now owns 26,573 shares of the transportation company’s stock valued at $2,275,000 after acquiring an additional 4,018 shares during the period. Finally, Clinton Group Inc. bought a new stake in Landstar System in the second quarter valued at $787,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

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Landstar System Company Profile

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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