Landstar System, Inc. (LSTR) Receives Consensus Recommendation of “Hold” from Brokerages

Landstar System, Inc. (NASDAQ:LSTR) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $105.75.

Several analysts have weighed in on the stock. Cowen reaffirmed a “market perform” rating and set a $115.00 price objective (up from $97.00) on shares of Landstar System in a research note on Thursday, February 1st. KeyCorp reaffirmed a “buy” rating and set a $125.00 price objective on shares of Landstar System in a research note on Friday. Buckingham Research upped their price objective on shares of Landstar System from $114.00 to $126.00 and gave the stock a “neutral” rating in a research note on Friday. Cleveland Research raised shares of Landstar System from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Tuesday, January 16th.

In other Landstar System news, Director Dr. Homaira Akbari sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the transaction, the director now directly owns 6,656 shares of the company’s stock, valued at $654,284.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Joseph J. Beacom sold 9,805 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $98.32, for a total transaction of $964,027.60. Following the completion of the transaction, the chief operating officer now directly owns 55,649 shares in the company, valued at $5,471,409.68. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in LSTR. Victory Capital Management Inc. bought a new position in Landstar System in the third quarter valued at approximately $86,725,000. Janus Henderson Group PLC bought a new position in Landstar System in the second quarter valued at approximately $57,249,000. FMR LLC boosted its stake in Landstar System by 64.7% in 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. Koch Industries Inc. bought a new position in Landstar System in the second quarter valued at approximately $339,000. Finally, TimesSquare Capital Management LLC bought a new position in Landstar System in the third quarter valued at approximately $22,780,000. 98.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Landstar System (NASDAQ:LSTR) opened at $109.35 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.96 and a current ratio of 1.75. The firm has a market cap of $4,590.00, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.81. Landstar System has a 52 week low of $80.00 and a 52 week high of $118.60.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. sell-side analysts predict that Landstar System will post 4.52 EPS for the current fiscal year.

Landstar System announced that its board has approved a stock buyback plan on Wednesday, December 13th that authorizes the company to buyback 1,960,000 outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Monday, February 19th will be paid a dividend of $0.15 per share. This is a boost from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, February 15th. Landstar System’s dividend payout ratio is 9.50%.

COPYRIGHT VIOLATION NOTICE: “Landstar System, Inc. (LSTR) Receives Consensus Recommendation of “Hold” from Brokerages” was reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/06/landstar-system-inc-lstr-receives-consensus-recommendation-of-hold-from-brokerages.html.

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.

Analyst Recommendations for Landstar System (NASDAQ:LSTR)

Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply