Landstar System (NASDAQ:LSTR) Cut to “Hold” at Wall Street Zen

Landstar System (NASDAQ:LSTR) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also recently commented on LSTR. Stifel Nicolaus boosted their price target on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Robert W. Baird set a $193.00 price target on Landstar System in a research report on Wednesday, April 29th. Truist Financial boosted their price target on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. TD Cowen boosted their price target on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Finally, Susquehanna boosted their price target on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Landstar System currently has an average rating of “Hold” and an average price target of $179.36.

Landstar System Stock Performance

Landstar System stock opened at $206.90 on Friday. The stock’s 50 day simple moving average is $174.80 and its two-hundred day simple moving average is $155.96. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 57.15 and a beta of 0.85. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $208.23.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. As a group, analysts expect that Landstar System will post 5.55 earnings per share for the current fiscal year.

Landstar System announced that its Board of Directors has approved a share repurchase program on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Landstar System

A number of hedge funds have recently added to or reduced their stakes in LSTR. Los Angeles Capital Management LLC purchased a new position in Landstar System in the 4th quarter worth approximately $25,000. Quarry LP purchased a new position in Landstar System in the 3rd quarter worth approximately $25,000. Global Retirement Partners LLC raised its holdings in Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after acquiring an additional 144 shares during the last quarter. UMB Bank n.a. raised its holdings in Landstar System by 335.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock worth $36,000 after acquiring an additional 225 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.