Landstar System (NASDAQ:LSTR) was upgraded by equities researchers at Susquehanna Bancshares from a “neutral” rating to a “positive” rating in a note issued to investors on Monday.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Tuesday, January 2nd. KeyCorp reaffirmed a “buy” rating and issued a $110.00 target price on shares of Landstar System in a research report on Tuesday, October 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price on shares of Landstar System in a research report on Tuesday, September 12th. BidaskClub lowered shares of Landstar System from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Robert W. Baird reiterated a “hold” rating and issued a $102.00 price target on shares of Landstar System in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $98.73.
Shares of Landstar System (NASDAQ LSTR) traded up $0.85 on Monday, reaching $104.70. 180,800 shares of the company’s stock traded hands, compared to its average volume of 242,425. The stock has a market cap of $4,393.82, a PE ratio of 29.00, a P/E/G ratio of 1.85 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 has a fifty-two week low of $80.00 and a fifty-two week high of $107.60.
Landstar System announced that its Board of Directors has approved a share repurchase program on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, COO Joseph J. Beacom sold 9,805 shares of Landstar System stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $98.32, for a total value of $964,027.60. Following the completion of the sale, the chief operating officer now directly owns 55,649 shares in the company, valued at $5,471,409.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dr. Homaira Akbari sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $98.30, for a total transaction of $98,300.00. Following the completion of the transaction, the director now directly owns 6,656 shares in the company, valued at approximately $654,284.80. The disclosure for this sale can be found here. Insiders sold 40,805 shares of company stock valued at $4,028,128 over the last quarter. Company insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. boosted its holdings in shares of Landstar System by 64.8% in the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock worth $130,000 after buying an additional 599 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Landstar System by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock worth $156,000 after buying an additional 224 shares during the last quarter. Zions Bancorporation purchased a new position in shares of Landstar System in the third quarter worth approximately $167,000. PNC Financial Services Group Inc. boosted its holdings in shares of Landstar System by 22.9% in the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock worth $171,000 after buying an additional 373 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Landstar System in the second quarter worth approximately $202,000. 97.93% of the stock is currently owned by institutional investors.
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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.
