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

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. “

LSTR has been the subject of several other reports. Robert W. Baird reaffirmed a “hold” rating and set a $105.00 price target on shares of Landstar System in a report on Tuesday, January 9th. Buckingham Research initiated coverage on Landstar System in a research report on Friday, October 20th. They issued a “neutral” rating and a $103.00 price objective for the company. Cowen reiterated a “hold” rating and issued a $97.00 price objective on shares of Landstar System in a research report on Friday, October 27th. Susquehanna Bancshares upgraded Landstar System from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $109.00 to $124.00 in a research report on Monday, January 8th. Finally, BidaskClub cut Landstar System from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Landstar System currently has a consensus rating of “Hold” and an average target price of $101.17.

Shares of Landstar System (NASDAQ:LSTR) traded up $0.55 during midday trading on Friday, hitting $108.45. The company had a trading volume of 181,344 shares, compared to its average volume of 234,384. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. Landstar System has a 52-week low of $80.00 and a 52-week high of $108.55. The firm has a market capitalization of $4,550.00, a P/E ratio of 29.96, a PEG ratio of 1.89 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $895.31 million. During the same period last year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. research analysts expect that Landstar System will post 3.69 EPS for the current year.

Landstar System declared that its board has initiated a stock buyback program on Wednesday, December 13th that allows the company to repurchase 1,960,000 shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other Landstar System news, VP Michael K. Kneller sold 10,000 shares of the 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 completion of the transaction, the vice president now owns 22,153 shares in the company, valued at $2,193,147. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James B. Gattoni sold 15,000 shares of the firm’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 transaction, the chief executive officer now owns 69,339 shares of the company’s stock, valued at approximately $6,845,146.08. The disclosure for this sale can be found here. Insiders sold 40,805 shares of company stock valued at $4,028,128 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in LSTR. Vanguard Group Inc. boosted its stake in shares of Landstar System by 2.2% during the second quarter. Vanguard Group Inc. now owns 3,457,375 shares of the transportation company’s stock valued at $295,951,000 after acquiring an additional 74,458 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its stake in shares of Landstar System by 6.5% during the second quarter. Atlanta Capital Management Co. L L C now owns 2,430,445 shares of the transportation company’s stock valued at $208,046,000 after acquiring an additional 147,478 shares during the last quarter. FMR LLC boosted its stake in shares of Landstar System by 64.7% during the second quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock valued at $103,575,000 after acquiring an additional 475,220 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Landstar System by 8.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,172,077 shares of the transportation company’s stock valued at $116,798,000 after acquiring an additional 90,630 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Landstar System during the third quarter valued at $86,725,000. Institutional investors and hedge funds 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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